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You want to buy a car and a local bank will lend you $20,000 If the loan will be fully amortized over 5 years (60

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You want to buy a car and a local bank will lend you $20,000 If the loan will be fully amortized over 5 years (60 Months) and the nominal interest rate will be 9.99% with interest paid monthly, what will be the loan's EAR? 10.46% None of the above 12.95% 12.68% 13.56%

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