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Annualized returns (aka 'effective annual returns' or EAR) Case 1 = "/(1 + TR) - 1 Example - Rs. 10 lakh grow to become Rs. 13 lakh in 3 years. Calculate EAR. Case 2 = (1 + TRM - 1 Example - Rs. 10 lakh result in a cash flow of Rs. 10,000 in 2 months. Calculate EAR. Case 3 = (1 + TRY)(1+ TR2)(1 + TR3)(1 + TR4) ...... - 1 Example - Rs. 2 lakh invested in a fund returns-0.18%, 11.86% and -2.45% quarterly. Find EAR