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Suppose you borrow $9, 875 and then repay the loan by making 12 monthly payments of $863.58 each. What is the effective annual rate (EAR)
Suppose you borrow $9, 875 and then repay the loan by making 12 monthly payments of $863.58 each. What is the effective annual rate (EAR) you are paying? [, circle your answer.]
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