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Big Dom's Pawn Shop charges an interest rate of 1375 percent per month on loans...

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Big Dom's Pawn Shop charges an interest rate of 1375 percent per month on loans to its customers. Like all lenders, Bog Dom must report an APR to consumers. a. What rate should the shop report? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g. 3216. b. What is the effective annual rate? Note: Do not round intermediote calculotions and enter your answer as a percent rounded to 2 decimal places, e.g., 3216

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