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MC Qu. 6-A16 You are paying an effective annual rate of... You are paying an effective annual rate of 14.50 percent on your credit card.

MC Qu. 6-A16 You are paying an effective annual rate of...

You are paying an effective annual rate of 14.50 percent on your credit card. The interest is compounded monthly. What is the annual percentage rate on your account?
15.96 percent
14.50 percent
13.62 percent
12.78 percent
12.05 percent

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