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A given rate is quoted as 12% APR, but has an effective annual rate (EAR) of 12.55%. What is the frequency of compounding during the
A given rate is quoted as 12% APR, but has an effective annual rate (EAR) of 12.55%. What is the frequency of compounding during the year? I know that the answer is Quarterly, I just don't quite understand how you arrive to this answer. Please explain
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Entrepreneurial Finance
Authors: Chris LeachJ LeachRonald Melicher
3rd Edition
0324561253, 9780324561258
