A rate of 8 percent APR with monthly payments is actually 8%/12 .67% per month. The EAR

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A rate of 8 percent APR with monthly payments is actually 8%/12 .67% per month. The EAR is thus:

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Fundamentals Of Corporate Finance

ISBN: 9780072313000

5th Edition

Authors: Stephen A Ross, Randolph W Westerfield

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Question Posted: May 22, 2024 06:01 AM

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A rate of 8 percent APR with monthly payments is actually 8%/12 .67% per month. The EAR

Question:

EAR [1+(.08/12)112 - 1 = 8.30%

Step by Step Answer:

Fundamentals Of Corporate Finance

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