Question
You have an outstanding loan with a local bank that requires you to pay interest only, and the interest payment is due quarterly. Te nominal
You have an outstanding loan with a local bank that requires you to pay interest only, and the interest payment is due quarterly. Te nominal (stated) interest rate is 6.75%. What is the effective annual rate (EAR)?
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Handbook Of The Fundamentals Of Financial Decision Making
Authors: Leonard C MacLean, William T Ziemba
1st Edition
9814417343, 978-9814417341
