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Given an APR of 11%, what is the theoretically highest EAR possible? Hint: Think about the number of compounding/discounting periods per year, how many of
Given an APR of 11%, what is the theoretically highest EAR possible? Hint: Think about the number of compounding/discounting periods per year, how many of those periods in a year would give you the highest possible EAR? Note: Show your answer in units of percent, use plain numbers with at least two digits after the decimal (e.g., for 12.34%, type 12.34)
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