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Beautinator Cosmetics borrowed $100,000 from a bank for four years. If the quoted rate (APR) is 11.75 percent, and the compounding is quarterly, what is
Beautinator Cosmetics borrowed $100,000 from a bank for four years. If the quoted rate (APR) is 11.75 percent, and the compounding is quarterly, what is the effective annual rate (EAR)? Answer options: 14.32% 12.28% 11.71% 12.51%
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