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Calculate the Effective Annual Rate (EAR) for a loan with Annual Percentage Rate (APR) of 11.1% compounded quarterly. Note: Enter your answer in percentage rounded

Calculate the Effective Annual Rate (EAR) for a loan with Annual Percentage Rate (APR) of 11.1% compounded quarterly.

Note: Enter your answer in percentage rounded to the nearest second digit after the decimal point. For example, if the calculated EAR is 0.096831 or 9.6831% enter it as: 9.68

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