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If the APR on a loan is 9% with interest charged quarterly, then what is the effective annual rate (EAR)? Use percent expression and round

If the APR on a loan is 9% with interest charged quarterly, then what is the effective annual rate (EAR)? Use percent expression and round your answer to 2 decimal places. For example, if you calculate the answer as 0.12345, enter 12.35

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