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Which of the following statements is TRUE?A. The APR is equal to the EAR for a loan that charges interest monthly.B. The APR is always strictly greater than the EAR for compounding more than once per year.C. The APR on a monthly loan is equal to (1 + monthly interest rate)12 - 1.D. The EAR is the best measure of the actual rate you are paying on a loan.
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