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What is the effective annual interest rate on a 9% APR automobile loan that has monthly payments?
Payoff
The return or reward received from an investment or action, often used in the context of games and economic scenarios.
Chicken
A common type of poultry raised for its meat and eggs, and one of the most widespread domestic animals worldwide.
Payoff
The return or reward received from making a certain choice or taking a specific action, especially in games or economic contexts.
Pure Strategy Equilibria
A scenario in game theory where players choose a single strategy with certainty, leading to an outcome where no player benefits from changing strategies, assuming others do not change.
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