Question
A loan is offered with monthly payments and 9% APR. What the loan annual effective rate (EAR)? Do not round intermediate calculation and round final
A loan is offered with monthly payments and 9% APR. What the loan annual effective rate (EAR)? Do not round intermediate calculation and round final answer to two decimal places,
Payments per year: 12
APR: 9.00%
Do not hard code values in your calculations.
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International Financial Management
Authors: Cheol Eun, Bruce G. Resnick
8th edition
125971778X, 978-1259717789
