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Problem 5-15 Effective Annual Rate (LG5-7) A loan is offered with monthly payments and a 10.50 percent APR. What's the loan's effective annual rate (EAR)?

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Problem 5-15 Effective Annual Rate (LG5-7) A loan is offered with monthly payments and a 10.50 percent APR. What's the loan's effective annual rate (EAR)? (Do not round termediate calculations and round your final answer to 2 decimal places.) Effective annual rate

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