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5 - 6 . Your bank account pays interest with an EAR of 5 % . What is the APR quote for this account based
Your bank account pays interest with an EAR of What is the APR quote for this account based on semiannual compounding? What is the APR with monthly compounding?
Using the formula for converting from an EAR to an APR quote:
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Financial And Insurance Formulas
Authors: Tomas Cipra
2010th Edition
3790829013, 978-3790829013
