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American Express and other credit card issuers must by law print the Amnual Percentage Rate (APR) on their monthly statements. If the APR is stated

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American Express and other credit card issuers must by law print the Amnual Percentage Rate (APR) on their monthly statements. If the APR is stated to be 11.75%, with interest paid monthly, what is the card's EFF\%? Select the correct answer. a. 21.40% b. 9.40% c. 18.40% d. 12.40% e. 15.40%

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