(a) The annual percentage rate (APR) on a loan that charges interest of 0.83 percent...
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Accounting
(a) The annual percentage rate (APR) on a loan that charges interest of 0.83 percent per month is 9.96 %. What is the effective annual rate (EAR) on the loan described in (a)? (Round answer to 2 decimal places, e.g., 2.25.) Effective annual rate%
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