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The quoted interest rate is 5.6% (APR with quarterly compounding). 1. What is the quarterly rate? 2. What is the effective annual rate (EAR)? 3.

The quoted interest rate is 5.6% (APR with quarterly compounding). 1. What is the quarterly rate? 2. What is the effective annual rate (EAR)? 3. What is the effective rate for 6 months, i.e., the semiannual rate? 4. What is the effective daily rate? 5. What would the effective daily rate be as an APR?

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