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If the quoted rate is 0.7% per month, what is the corresponding Annual percentage Rate? Select one: 8.40% 9.60% 6.20% None of the presented responses

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If the quoted rate is 0.7% per month, what is the corresponding Annual percentage Rate? Select one: 8.40% 9.60% 6.20% None of the presented responses is correct 7.60%

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