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Is this correct? 2. What annual percentage rate (ABR) is equivalent to 12% compounded monthly if 60 payments are involved? A) 12.68% B) 11.8% C)

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2. What annual percentage rate (ABR) is equivalent to 12% compounded monthly if 60 payments are involved? A) 12.68% B) 11.8% C) 24.4% D) 23.6% E) None of these. (1 + 01/0) -) = 12.13

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