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What is the effective annual rate on a loan with an APR of 10.6 percent if interest is compounded daily? Assume a 365-day year. 11.02%
What is the effective annual rate on a loan with an APR of 10.6 percent if interest is compounded daily? Assume a 365-day year.
| 11.02% | ||
| 10.16% | ||
| 10.72% | ||
| 10.08% | ||
| 11.18% |
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Fixed Income Securities Tools For Todays Markets
Authors: Bruce Tuckman, Angel Serrat
4th Edition
1119835550, 978-1119835554
