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What is the annual percentage rate for a loan that has an effective rate of 14.25% and is compounded monthly? a. 13.4% b. 14.25% c.

What is the annual percentage rate for a loan that has an effective rate of 14.25% and is compounded monthly? a. 13.4% b. 14.25% c. 13.85% d. 15.22%

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