Question
If M >1 and you solve the following equation to find the interest rate in the following: PV * (1 + rate) N = FV,
If M >1 and you solve the following equation to find the interest rate in the following: PV * (1 + rate)N = FV, the rate you get will be
the APR
the EAR
the TOE
the EYE
the rate per compounding period
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
