Solved: What is the effective annual rates, Microeconomics

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What is the effective annual rates

Problem

Effective annual rates A credit card company states an annual percentage rate (APR) of 12 percent, which is actually a rate of 1 percent per month. What is the EAR?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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