Question: Chapter 5 question 6 A loan is offered with monthly payments and a 7.75 percent APR. Whats the loans effective annual rate (EAR)? (Do not

Chapter 5 question 6

A loan is offered with monthly payments and a 7.75 percent APR. Whats the loans effective annual rate (EAR)? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Effective annual rate

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