Question
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) | |||||||
| 9.8 | % | Quarterly | % | ||||||
| 18.8 | Monthly | ||||||||
| 14.8 | Daily | ||||||||
| 11.8 | Infinite | ||||||||
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How Finance Works
Authors: Mihir Desai
1st Edition
1633696707, 978-1633696709
