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The effective annual interest rate (EAR) for a $5,500 loan for a 2-year term, which charges an APR of 18.6% compounded monthly, will be: a.

The effective annual interest rate (EAR) for a $5,500 loan for a 2-year term, which charges an APR of 18.6% compounded monthly, will be: a. 20.27% b. 18.60% c. 37.20% d. 10.15% e. 15.25%

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