Question
EAR.
  What is the effective annual rate​ (EAR) of a mortgage that is advertised at
9.75​%
​(APR) over the next twenty years and paid with
monthly
​payments?
What is the effective annual rate​ (EAR) of the mortgage at
9.75​%
APR with
monthly
​payments?

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Effective annual rate and Annual percentage rate

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