Question: The effective annual rate ( EAR ) for a loan with a stated APR of 8 % compounded monthly is closest to: Question content area

The effective annual rate(EAR) for a loan with a stated APR of8% compounded monthly is closest to:
Question content area bottom
Part 1
A.
8.30%.
B.
7.72%.
C.
8.00%.
D.
8.66%.

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