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Your answer is correct. What is the annual percentage rate (APR) on a loan that charges interest of 0.53 percent per month? (Round answer to

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Your answer is correct. What is the annual percentage rate (APR) on a loan that charges interest of 0.53 percent per month? (Round answer to 2 decimal places, e.g.. 2.25.) Annual percentage rate 6.36 % eTextbook and Media Attempts: 1 of 2 used (b) Your answer is incorrect. What is the effective annual rate (EAR) on the loan described in (a)? (Round answer to 2 decimal places, e.8., 2.25.) % Effective annual rate

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