Question: Help Save Problem 9-25 Effective Annual Rate (LO2, CFA1) You have a car loan with a nominal rate of 60 percent. With interest charged monthly,

Help Save Problem 9-25 Effective Annual Rate (LO2, CFA1) You have a car loan with a nominal rate of 60 percent. With interest charged monthly, what is the effective annual rate (EARon this loan? (Do not round Intermediate calculations. Enter your answer as a percent rounded to 2 decimal places) EAR

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