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10 period must be known to select the preferred account. merent. 9) A credit card account that charges interest at the rate o
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Answer #1

A) 16.08%;15.00%

APR = Monthly interest rate * number of months
= 1.25%*12
= 15.00%
EAR = ((1+(i/n))^n)-1 Where,
= ((1+(0.15/12))^12)-1 i = 15.00%
= 16.08% n = 12
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