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Big Show's Pawn Shop charges an interest rate of 28.2% per month on loans to its customers. Like all lenders, Big Show must report an

Big Show's Pawn Shop charges an interest rate of 28.2% 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?

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