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(a)What is the annual percentage rate (APR) on a loan that charges interest of 0.87 percent per month? (Round answer to 2 decimal places, eg,
(a)What is the annual percentage rate (APR) on a loan that charges interest of 0.87 percent per month? (Round answer to 2 decimal places, eg, 2.25.) Annual percentage rate 10.44
(b) What is the effective annual rate (EAR) on the loan described in (a)? (Round answer to 2 decimal places, eg., 2.25.) 7.25 Effective annual rate
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