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Find the EAR in each of the following cases. (Do not include the percent signs (%). Round your answers to 2 decimal places. (e.g., 32.16))
| Find the EAR in each of the following cases. (Do not include the percent signs (%). Round your answers to 2 decimal places. (e.g., 32.16)) |
| STATED RATE (APR) | NUMBER OF TIMES COMPOUNDED | EFFECTIVE RATE (EAR) |
| 16% | Quarterly | 16.99 16.99 Correct % |
| 11% | Monthly | 11.57 11.57 Correct % |
| 20% | Daily | 22.13 22.13 Correct % |
| 12% | Infinite | 1.13 1.13 Incorrect % |
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The Handbook Of Financial Instruments
Authors: Frank J. Fabozzi
1st Edition
0471220922, 978-0471220923
