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Sowed Dave had borrowed $280 for one year at an APR 0f 13%, compounded monthly what would have been the effective annual interest rate charged

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Sowed Dave had borrowed $280 for one year at an APR 0f 13%, compounded monthly what would have been the effective annual interest rate charged on the loan? (Round your answer to 2 decimal places. Omit the "%sign in your response) Effective annual rate of interest 5

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