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An investment has a 12% stated rate (APR) compounded monthly. What is the effective annual rate (EAR) of this investment? a. 12.00% b. 12.68% c.

An investment has a 12% stated rate (APR) compounded monthly. What is the effective annual rate (EAR) of this investment? a. 12.00% b. 12.68% c. 1236% d. 11.87%

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