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Question 9 5 pts Suppose your bank charges you an annual interest rate of 6% on your loan. If the interest is compounded monthly. What

Question 9 5 pts Suppose your bank charges you an annual interest rate of 6% on your loan. If the interest is compounded monthly. What is the effective annual rate (EAR) the bank is charging you on the loan? (Round your answer to 2 decimal points)

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