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An 10% APR with monthly compounding is closest to which of the following? A.an EAR of 10.47% B.an EAR of 12.56% C.an EAR of 20.94%

An 10% APR with monthly compounding is closest to which of the following?

A.an EAR of 10.47%

B.an EAR of 12.56%

C.an EAR of 20.94%

D.an EAR of 8.38%

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