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You have found three investment choices for a one-year deposit: 9.8% APR compounded monthly, 9.8% APR compounded annually, and 9.2% APR compounded daily. Compute the
You have found three investment choices for a one-year deposit: 9.8% APR compounded monthly, 9.8\% APR compounded annually, and 9.2\% 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.) Suppose Capital One is advertising a 60 -month, 5.53% APR motorcycle Ioan. If you need to borrow $7,300 to purchase your dream Harley-Davidson, what will be your monthly payment? (Note: Be careful not to round any intermediate steps less than six decimal places.) Your monthly payment will be $. (Round to the nearest cent.)
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