Question $7($Mandatory$)(1$ point$)$

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If the effective annual rate of interest is known to be $18\%$ on a debt that has payments every two months, what is the annual percentage rate

Question $7$ options:

$12\mathrm{.}03\%$

$15\mathrm{.}68\%$

$16\mathrm{.}78\%$

$20\mathrm{.}43\%$