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Find the EAR in each of the following cases (Use 365 days a year. Do not round intermediate calculations. Enter your answers as a percent
Find the EAR in each of the following cases (Use 365 days a year. 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 Compunded | Effective Rate (EAR) |
---|---|---|
8.4% | Quarterly | |
17.4 | Monthly | |
13.4 | Daily | |
10.4 | Infinite |
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