Having trouble with converting APR to EAR since it is compounding semi annually. You are quoted an
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Question:
Having trouble with converting APR to EAR since it is compounding semi annually.
You are quoted an APR (Annual Percentage Rate) on a loan of .131. The
APR is a stated rate. The loan has semiannual compounding.
a. (2 points) What is the periodic semiannual rate? .0655
b. (6 points) What is the equivalent effective monthly rate?
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