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F10: Effective Annual Rate A loan is offered with monthly payments and a 10.5 percent APR. What's the loan's effective annual rate (EAR)? 11.60% 11.02%

F10: Effective Annual Rate A loan is offered with monthly payments and a 10.5 percent APR. What's the loan's effective annual rate (EAR)?

11.60%

11.02%

10.02%

16.95%

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