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A bank quotes an APR on its 5-year cds of 12 percent. If these returns are compounded BI-MONTHLY (6 times a year), what is the
A bank quotes an APR on its 5-year cds of 12 percent. If these returns are compounded BI-MONTHLY (6 times a year), what is the EAR (effective annual rate)?
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Investment Science
Authors: David G. Luenberger
2nd Edition
0199740089, 978-0199740086
