Question: A bank offers a loan that will requires you to pay 10% (APR) interest compounded monthly. Which of the following is closest to the EAR

A bank offers a loan that will requires you to pay 10% (APR) interest compounded monthly. Which of the following is closest to the EAR charged by the bank? Select one: O a. 14.46% O b. 10.47% O c. 12.68% O d. 10.99%

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