Question
4.) An 99?%APR with monthly compounding is closest to which of the? following? A.an EAR of 11.2611.26?% B.an EAR of 7.57.5?% C.an EAR of 18.7618.76?%
4.) An 99?%APR with monthly compounding is closest to which of the? following?
A.an EAR of
11.2611.26?%
B.an EAR of
7.57.5?%
C.an EAR of
18.7618.76?%
D.an EAR of
9.389.38?%
5.)A $52,000 loan is taken out on a boat with the terms 6?% APR for 36 months. How much are the monthly payments on this? loan?
Step by Step Solution
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Step: 1
To solve the first question we need to calculate the Effective Annual Rate EAR given th...
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Fundamentals of Investments, Valuation and Management
Authors: Bradford Jordan, Thomas Miller, Steve Dolvin
8th edition
1259720697, 1259720691, 1260109437, 9781260109436, 978-1259720697
