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The annual percentage rate (APR) on your loan is 12.55%. If payments on the loan were monthly, what is the effective annual rate (EAR) on

The annual percentage rate (APR) on your loan is 12.55%. If payments on the loan were monthly, what is the effective annual rate (EAR) on your loan (approximately)? 13.52% b) 16.36% 12.55% 13.30%** 12.89%

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