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Your auto lease agreement has a stated rate of 21.00%. What is the Effective Annual Rate (EAR) given quarterly compounding? a. 5.25% b. 122.71% c.

Your auto lease agreement has a stated rate of 21.00%. What is the Effective Annual Rate (EAR) given quarterly compounding? a. 5.25% b. 122.71% c. 22.71% d. 116.59%

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