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If a bank pays interest rate quarterly and its annual percentage rate (APR) is 5%, what is the effective annual rate? A. 5.23% B. 5.09%
If a bank pays interest rate quarterly and its annual percentage rate (APR) is 5%, what is the effective annual rate?
| A. | 5.23% | |
| B. | 5.09% | |
| C. | 4.02% | |
| D. | 4.04% |
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Makers And Takers The Rise Of Finance And The Fall Of American Business
Authors: Rana Foroohar
1st Edition
0553447238, 978-0553447231
