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A loan is offered with monthly payments and a 14.5 percent APR. What is the loan's effective annual rate (EAR)? Multiple Choice 15.63 percent 15.13
A loan is offered with monthly payments and a 14.5 percent APR. What is the loan's effective annual rate (EAR)?
Multiple Choice
- 15.63 percent
- 15.13 percent
- 15.50 percent
- 14.97 percent
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Financial Management Core Concepts
Authors: Raymond M Brooks
3rd edition
133866696, 978-0133866698
