Examlex
The effective annual rate (EAR) for a loan with a stated APR of 8% compounded monthly is closest to:
Infant
A very young child, especially one newly or recently born.
Illegal
Illegal refers to actions or activities that are prohibited by law or statute.
Enforceable
Refers to a rule, obligation, or agreement that can be legally imposed or carried out.
Illegal Contract
An agreement that is void and unenforceable by law due to its illegal subject matter or terms.
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