You plan to apply for a loan from Bank of America. The nominal annual interest rate...
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You plan to apply for a loan from Bank of America. The nominal annual interest rate for this loan is 10.91 percent, compounded daily (with a 365-day year). What is the effective annual rate, or EAR (annual percentage yield), of this loan? Round the answer to two decimal places in percentage form. (Write the percentage sign in You plan to apply for a loan from Bank of America. The nominal annual interest rate for this loan is 10.91 percent, compounded daily (with a 365-day year). What is the effective annual rate, or EAR (annual percentage yield), of this loan? Round the answer to two decimal places in percentage form. (Write the percentage sign in
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Related Book For
Engineering Economic Analysis
ISBN: 9780195168075
9th Edition
Authors: Donald Newnan, Ted Eschanbach, Jerome Lavelle
Posted Date:
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