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The effective annual rate (EAR) for a loan with a stated APR of 10% compounded quarterly is closest to: A. 10.38% B. 12.50% C. 10.00%

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The effective annual rate (EAR) for a loan with a stated APR of 10% compounded quarterly is closest to: A. 10.38% B. 12.50% C. 10.00% D. 9.65%

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