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QUESTION 8 You are considering a car loan with a stated APR of 6.0% based on monthly compounding. What is the effective annual rate

QUESTION 8 You are considering a car loan with a stated APR of 6.0% based on monthly compounding. What is the effective annual rate (EAR) of this loan? Oa. 6.17% Ob.5.85% O c. 6.0% Od.6.5% Oe. 7.96%

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