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QM 2. The effective annual rate (EAR) for a loan with a stated APR of...

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QM 2. The effective annual rate (EAR) for a loan with a stated APR of 8% compounded monthly is closest to: A. 7.72% B. 8.00% C. 8.30% D. 8.66% QM 3. The effective annual rate for a credit card that charges a 19.9% APR compounded daily is closest to: A. 18.15% B. 19.9% C. 22.0% D. 24.2%

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