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Your bank offers you a loan with quarterly payments and a 6.50 percent APR. What's the effective annual rate (EAR) on this loan? 11.75% 6.37%

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Your bank offers you a loan with quarterly payments and a 6.50 percent APR. What's the effective annual rate (EAR) on this loan? 11.75% 6.37% 6.13% 12.01% 6.66%

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