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Effective Annual Rate A loan is offered with monthly payments and a 10.75 percent APR. What's the loan's effective annual rate (EAR)? 10.30% 11.30% 11.88%

Effective Annual Rate A loan is offered with monthly payments and a 10.75 percent APR. What's the loan's effective annual rate (EAR)?

10.30%

11.30%

11.88%

17.23%

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