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You have found three investment choices for a one-year deposit: 10.0% APR compounded monthly, 10.0% APR compounded annually, and 9.0% APR compounded daily. Compute
You have found three investment choices for a one-year deposit: 10.0% APR compounded monthly, 10.0% APR compounded annually, and 9.0% 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.) The EAR for the first investment choice is %. (Round to three decimal places.)
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Public Finance
Authors: John E. Anderson
2nd edition
978-0538478441, 538478446, 978-1133708360, 1133708366, 978-1111526986
