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Which one of the following statements is correct? Multiple Choice The APR is equal to the EAR for a loan that charges interest monthly The

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Which one of the following statements is correct? Multiple Choice The APR is equal to the EAR for a loan that charges interest monthly The EAR is always greater than the APR. The APR on a monthly loan is equal to (1 + monthly interest rate)12 - 1. The APR is the best measure of the actual rate you are paying on a loan. The EAR, rather than the APR, should be used to compare both investment and loan options

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