Question
Let's assume you open a certificate of deposit, and your Bank promises a rate of 9% APR (Annual Percent Rate). The Bank officer mentions that
Let's assume you open a certificate of deposit, and your Bank promises a rate of 9% APR (Annual Percent Rate). The Bank officer mentions that the interest will be compounded semi-annually.
What is the Effective Annual Rate (EAR)?
Please type the rate as a percentage.
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Crypto Rich A Millenial S Guide To Cryptocurrency And Investing Basics
Authors: Michelle Lilly ,Knowledge Smith ,Imani Smith ,Xavier Odili
1st Edition
1639726470, 978-1639726479
