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A. The effective annual interest rate cannot be less than the annual percentage rate. true false B. What is the APR on a loan that

A. The effective annual interest rate cannot be less than the annual percentage rate.

true

false

B.

What is the APR on a loan that charges interest at the rate of 1.4% per month?

10.20%

14.00%

16.80%

18.16%

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