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What is the Equivalent Annual Rate (EAR) of a 12% Annual Percentage Rate (APR) compounded daily? You want to buy a new sports coupe
What is the Equivalent Annual Rate (EAR) of a 12% Annual Percentage Rate (APR) compounded daily? You want to buy a new sports coupe for $68,500. The finance office quotes a 4.0% APR compounded monthly for 60 months. What are the monthly payments of the loan if it is an ordinary annuity? What are the payments if the loan is an annuity due?
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Fundamentals of corporate finance
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
9th edition
978-0077459451, 77459458, 978-1259027628, 1259027627, 978-0073382395
