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Problem 6-12 Calculating EAR [LO4] Find the EAR in each of the following cases (Use 365 days a year. Do not round intermediate calculations. Enter

Problem 6-12 Calculating EAR [LO4]

Find the EAR in each of the following cases (Use 365 days a year. Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.):

Stated Rate (APR) Number of Times Compounded Effective Rate (EAR)

9.1 % Quarterly %

18.1 Monthly

14.1 Daily

11.1 Infinite

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