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A loan has a stated annual rate of 17.9%. If loan payments are made monthly and interest is compounded monthly, what is the effective annual

A loan has a stated annual rate of 17.9%. If loan payments are made monthly and interest is compounded monthly, what is the effective annual rate of interest? (Show your answer to the fourth decimal place, as a decimal, NOT as a percentage. DO NOT round until after all calculations have been completed and you have reached your final answer.)

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