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Master Card and other credit card issuers must by law print the Annual Percentage Rate...

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Finance

Master Card and other credit card issuers must by law print the Annual Percentage Rate (APR) on their monthly statements. If the APR is stated to be 17.75%, with interest paid monthly, what is the card's EFF%?

a. 18.54%

b. 8.88%

c. 19.27%

d. 17.75%

e. 18.97%

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