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What is the effective annual rate for an APR of 15.20 percent compounded monthly? Multiple Choice 16.30% 17.12% 16.09% 15.28% 16.20%

What is the effective annual rate for an APR of 15.20 percent compounded monthly?

Multiple Choice

  • 16.30%

  • 17.12%

  • 16.09%

  • 15.28%

  • 16.20%

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