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A loan is offered with monthly payments and a 15.50 percent APR. What's the loan's effective annual rate (EAR)? (Do not round intermediate calculations and

A loan is offered with monthly payments and a 15.50 percent APR. What's the loan's effective annual rate (EAR)? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Efective annual rate %

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