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What is the EAR of a 5-year car loan for $10,000 that has monthly (end of month) payments of $361.33? a)3% b) 42.58% c) 15%

What is the EAR of a 5-year car loan for $10,000 that has monthly (end of month) payments of $361.33?

a)3%

b) 42.58%

c) 15%

d)36%

**PLEASE do not use excel. Use formulas please.

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