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When calculating the monthly rate (tho) on an amortized loan, the annual interest rate () must be: Select one: a. Multiplied by 12 b. Divided

When calculating the monthly rate (tho) on an amortized loan, the annual interest rate () must be: Select one: a. Multiplied by 12 b. Divided by 12 O c. Subtracted from 12 O d. Added to 12

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