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3. (8 points) A credit card offer you got in the mail advertises an APR of 18% credit card offers 18.5% APR with semiannual c

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3) a) EAR = (1+APR+n)^n-1 In is number of compounding per year 1st Credit card EAR 2nd Credit card EAR 19.72% 19.36% =(1+18%/

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