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Big Dom's Pawn Shop charges an interest rate of 24 percent per month on loans to its customers. Like all lenders, Big Dom must report

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Big Dom's Pawn Shop charges an interest rate of 24 percent per month on loans to its customers. Like all lenders, Big Dom must report an APR to consumers. Required : (a)What rate should the shop report (APR)? (b)What is the actual effective annual rate (EAR)

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