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Comparing Interest Rates Suppose you can borrow money at 13.07% per year (APR) compounded semiannually or 13.57% per year (APR) compounded monthly. a. Calculate the

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Comparing Interest Rates Suppose you can borrow money at 13.07% per year (APR) compounded semiannually or 13.57\% per year (APR) compounded monthly. a. Calculate the Effective Annual Rate. (Do not round intermediate calculations. Round your answers to 2 decimal places.) b. Which is the better deal? APR compounded semiannually. APR compounded monthly

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