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You are looking at a one-year loan of $15,000. The interest rate on a one-year loan is quoted as 13.1 percent plus four points. What

You are looking at a one-year loan of $15,000. The interest rate on a one-year loan is quoted as 13.1 percent plus four points. What is the EAR? (Round your answer to 2 decimal places. (e.g., 32.16))

Effective annual rate __%

Is your answer affected by the loan amount?

Affected Or Not affected

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