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To borrow $950, you are offered an add on interest loan at 9.5 percent with 12 monthly payments. Compute the 12 equal payments. (Round your

To borrow $950, you are offered an add on interest loan at 9.5 percent with 12 monthly payments. Compute the 12 equal payments. (Round your answer to 2 decimal places.)

Equal payments

Compute the EAR of the loan. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

EAR

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