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Unformatted text preview: the loan? 3. Ricky Rip-offs Pawn Shop charges a rate of 20% per month. What is the APR? What is the EAR? 4. What is the EAR for a 9% loan when interest is compounded quarterly? 5. What is the APR of a loan that has an EAR of 16% when interest is compounded daily?...
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- Spring '11