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EAR What is the effective annual rate EAR) of a mortgage that is advertised at 10.75% APR) over the next twenty years and paid with

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EAR What is the effective annual rate EAR) of a mortgage that is advertised at 10.75% APR) over the next twenty years and paid with semiannual payments? What is the effective annual rate (EAR) of the mortgage at 10.75% APR with semiannual payments? [7% (Round to two decimal places.)

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