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Find the APR, or stated rate, in each of the following cases (Do not round intermediate calculations. Enter your answers as a percent rounded to
Find the APR, or stated rate, in each of the following cases (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.): |
Stated Rate (APR) | Number of Times Compounded | Effective Rate (EAR) | |||||||
11.66 % | Semiannually | 12.0 | % | ||||||
12.19 % | Monthly | 12.9 | |||||||
10.08 % | Weekly | 10.6 | |||||||
Infinite | 14.3 |
I know the top three are correct, but I can't figure out what the equation is for the infinite part. Someone help, and please show your work so I can see what equation you used!!
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