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You are paying an effective annual rate of 14.50 percent on your credit card. The interest is compounded monthly. What is the annual percentage rate

You are paying an effective annual rate of 14.50 percent on your credit card. The interest is compounded monthly. What is the annual percentage rate on your account?

12.05 percent

12.78 percent

14.50 percent

13.62 percent

15.96 percent

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