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A 5% APR with quarterly compounding is equivalent to an EAR of (%). Answer to two decimal places QUESTION 5 A bank offers a loan

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A 5% APR with quarterly compounding is equivalent to an EAR of (\%). Answer to two decimal places QUESTION 5 A bank offers a loan that will requires you to pay 7% interest compounded semiannually. Which of the following is closest to the EAR charged by the bank? 7.12% 6.98% 7.28% 13.72%

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