The interest rate on a one-year loan is quoted as 13 percent plus 3 points (see the
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The interest rate on a one-year loan is quoted as 13 percent plus 3 points (see the previous problem). What is the EAR? Is your answer affected by the loan amount?
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Answer The EAR on a oneyear loan is 16 percent The loan amount does ...View the full answer
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Related Book For
Fundamentals Of Corporate Finance
ISBN: 9781265553609
13th Edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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