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nna pays . 8 5 percent interest monthly on her credit card account. When the interest rate on that debt is expressed as if it

nna pays

. 85

percent interest monthly on her credit card account. When the interest rate on that debt is expressed as if it were compounded annually, the rate would be referred to as the:

annual percentage rate.

simplified rate.

quoted rate.

stated rate.

effective annual rate.

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