Question: 1 5 . A ( n ) 1 2 % APR with monthly compounding is closest to _ _ _ _ _ _ _ _

15. A(n)12% APR with monthly compounding is closest to ________.(5 points)
a. an EAR of 10.14%
b. an EAR of 15.22%
c. an EAR of 12.68%
d. an EAR of 25.36%

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