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Find the EAR in each of the following cases (Use 365 days a year. Do not round intermediate calculations and round your final answers to
Find the EAR in each of the following cases (Use 365 days a year. Do not round intermediate calculations and round your final answers to 2 decimal places. (e.g., 32.16)): |
Stated Rate (APR) | Number of Times Compounded | Effective Rate (EAR) | |||||||
8.5 | % | Quarterly | 8.77 % | ||||||
17.5 | Monthly | 18.97 | |||||||
13.5 | Daily | 14.45 | |||||||
10.5 | Infinite | ??? | |||||||
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