Question
ABC Bank pays a 2.10% nominal rate on deposits, with monthly compounding. What is the effective annualized rate (EAR)? (Give your answer in decimal number,
ABC Bank pays a 2.10% nominal rate on deposits, with monthly compounding. What is the effective annualized rate (EAR)? (Give your answer in decimal number, not percentage; and to 6 decimal places, e.g. 0.123456 )
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Foundations of Finance The Logic and Practice of Financial Management
Authors: Arthur J. Keown, John D. Martin, J. William Petty
8th edition
132994879, 978-0132994873
