A loan is offered with monthly payments and a 14.5% APR. What is the loan's effective annual rate (EAR)?
A) 14.97%
B) 15.50%
C) 15.13%
D) 15.63%

Name: A loan is offered with monthly payments and a 14.5% APR. What is the loan's effective annual rate (EAR)? A) 14.97% B) 15.50% C) 15.13% D) 15.63%
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The Answer of A loan is offered with monthly payments and a 14.5% APR. What is the loan's effective annual rate (EAR)?
A) 14.97%
B) 15.50%
C) 15.13%
D) 15.63%

A Loan Is Offered with Monthly Payments and a 14