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You are quoted an APR (annual percentage rate) of .0888 on a loan. The APR is a stated rate. The loan has monthly compounding. Q

You are quoted an APR (annual percentage rate) of .0888 on a loan. The APR is a stated rate. The loan has monthly compounding. Q 27 Question 27 (2 points) What is the periodic monthly rate? Select one: .0071 .0074 .0148 .0444 .0800 Q 28 Question 28 (6 points) What is the equivalent effective semiannual rate? Select one: .0012 .0018 .0149 .0299 .0434 .0452 .0925

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