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If a loan has an NIR of 6 per cent, what is the effective annual rate (EAR) assuming the loan calls for monthly payment? A.12.550%
If a loan has an NIR of 6 per cent, what is the effective annual rate (EAR) assuming the loan calls for monthly payment?
A.12.550%
B.8.502%
C.12.85%
D.6.176%
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