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Big Show's Pawn Shop charges an interest rate of 27.8% per month on loans to its customers. Like all lenders, Big Show must report an

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Big Show's Pawn Shop charges an interest rate of 27.8% per month on loans to its customers. Like all lenders, Big Show must report an APR to consumers. What rate should the shop report? (Round the final answer to 1 decimal places.) APR What is the effective annual rate? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) EAR

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