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A loan for a new car costs the borrower 1% every month. What is the effective annual rate (EAR)? 6.78% 8.24% 12.68% 10.23%
A loan for a new car costs the borrower 1% every month. What is the effective annual rate (EAR)?
| 6.78% | ||
| 8.24% | ||
| 12.68% | ||
| 10.23% |
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Finance For Non Financial Managers
Authors: Pierre Bergeron
6th Edition
0176501630, 9780176501631
