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You have agreed to a $40,000 fixedrate loan from Chase Bank today and promise to repay the loan with 36 equal monthly payments at an

You have agreed to a $40,000 fixedrate loan from Chase Bank today and promise to repay the loan with 36 equal monthly payments at an APR of 5.50%. What is the EAR of this loan?

A.5.64%

B.5.88%

C.5.50%

D.6.00%

2.

The public auction of bonds in the United States is regulated by the Federal Reserve System.

True or False

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