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A bank offers a loan that will requires you to pay 6% Interest compounded monthly. Which of the following is closest to the EAR charged

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A bank offers a loan that will requires you to pay 6% Interest compounded monthly. Which of the following is closest to the EAR charged by the bank? QA 7.4% B. 6.17% OC 12 34% OD 4.94%

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