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What is the Effective Annual Rate when the stated APR rate is 1 1 . 4 0 % and there are infinite periods? I need

What is the Effective Annual Rate when the stated APR rate is

11.40 %

and there are infinite periods? I need to show my work in excel and was using the EFFECT excel function, but I

'

m not sure if that is the right function to use.

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