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You are looking at a one-year loan of $10,500. The interest rate on a one-year loan is quoted as 12.2 percent plus four points. What

You are looking at a one-year loan of $10,500. The interest rate on a one-year loan is quoted as 12.2 percent plus four points. What is the EAR? (Round your answer to 2 decimal places. (e.g., 32.16)) Effective annual rate _________ %

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