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Please provide detailed explanation of calculation. Thank you. A bank offers a loan that will requires you to pay 15% interest compounded semiannually. Which of

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Please provide detailed explanation of calculation. Thank you.

A bank offers a loan that will requires you to pay 15% interest compounded semiannually. Which of the following is closest to the EAR charged by the bank? A. 31.12% B. 15.56% C. 12.45% D. 18.67%

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