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Mode Multiple Choice Question You borrow money for two years at 1.25 percent per month. How is the effective annual rate (EAR) computed? Multiple choice

Mode Multiple Choice Question You borrow money for two years at 1.25 percent per month. How is the effective annual rate (EAR) computed? Multiple choice question. EAR = (1 + 0.0125)12 - 1 EAR = [1 + (0.0125/12)]12 -1 EAR = [1 + (0.0125 12)12 - 1 EAR = (1 + 0.0125)24 - 1

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