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QUESTION 10 A loan has monthly compounding. If the stated (nominal) rate is 15%, what is the effective annual rate? O 15.9% 16.1% O 15.2%

QUESTION 10 A loan has monthly compounding. If the stated (nominal) rate is 15%, what is the effective annual rate? O 15.9% 16.1% O 15.2% d 15.4% none of the above 15.865

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