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What is the EAR for a $100 loan when the interest is compounded monthly and the stated annual interest rate is 7 percent? Select one:

What is the EAR for a $100 loan when the interest is compounded monthly and the stated annual interest rate is 7 percent? Select one: O A. 7.0 percent OB. 16.0 percent O C. 8.0 percent OD. 12.0 percent O E. 7.23 percent

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