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You have found three investment choices for a one-year deposit: 11.1 % APR compounded monthly, 11.1 %APR compounded annually, and 10.6 %APR compounded daily. Compute
You have found three investment choices for a one-year deposit: 11.1 % APR compounded monthly, 11.1 %APR compounded annually, and 10.6 %APR compounded daily. Compute the EAR for each investment choice. (Assume that there are 365 days in the year.) (Note: Be careful not to round any intermediate steps less than six decimal places.)
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