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A bank quotes an APR on its 3-year cds of 5 percent. a. If these returns are compounded monthly, what is the EAR? b.If these

A bank quotes an APR on its 3-year cds of 5 percent. a. If these returns are compounded monthly, what is the EAR? b.If these returns are continuously compounded, what is the EAR?

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