What is the effective annual rate you are paying

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Reference no: EM132003125

Suppose you borrow $9, 875 and then repay the loan by making 12 monthly payments of $863.58 each. What is the effective annual rate (EAR) you are paying?

The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM132003125

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