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Eezii Monii Bank charges a nominal interest rate (APR) of 31% for their personal loans, which is compounded on a monthly basis. What is the

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Eezii Monii Bank charges a nominal interest rate (APR) of 31% for their personal loans, which is compounded on a monthly basis. What is the corresponding effective annual rate (EAR)? O a. 35.81% O b. 36.32% O c. 34.79% O d. 31% O e. 2.58%

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