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You are paying an effective annual rate of 15.40 percent on your credit card. The interest is compounded monthly. What is the annual percentage rate

You are paying an effective annual rate of 15.40 percent on your credit card. The interest is compounded monthly. What is the annual percentage rate on your account?

13.63 percent

12.75 percent

14.41 percent

17.65 percent

15.40 percent

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