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Question content area top Part 1 EAR . What is the effective annual rate (EAR) of a mortgage that is advertised at 7.75% (APR) over

Question content area top

Part 1

EAR.

What is the effective annual rate (EAR) of a mortgage that is advertised at

7.75%

(APR) over the next twenty years and paid with

monthly

payments?

Question content area bottom

Part 1

What is the effective annual rate of the mortgage at

7.75%

APR with

monthly

payments?

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