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Pawn Shop XYZ charges an interest rate of 16% per month. By regulation, they must disclose in the fine print) an APR to their customers.

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Pawn Shop XYZ charges an interest rate of 16% per month. By regulation, they must disclose in the fine print) an APR to their customers. What is the APR they disclose and what is their EAR? APR: 192.00%; EAR: 493.60% O APR: 16.00%; EAR: 192.00% O APR: 493.6096; EAR: 192.00% APR: 192.00%; EAR: 593.60%

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