Question: What is the annual percentage rate on a loan with a stated rate of 2.75 percent per quarter? 11.00 percent 11.09 percent 11.18 percent 11.27

What is the annual percentage rate on a loan with a stated rate of 2.75 percent per quarter?

11.00 percent

11.09 percent

11.18 percent

11.27 percent

11.31 percent

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