Question
you plan to apply for a loan from Bank of America. The nominal annual interest rate for this loan is 7.81 percent; compounded daily (with
you plan to apply for a loan from Bank of America. The nominal annual interest rate for this loan is 7.81 percent; compounded daily (with a 365-day year). What is the effective annual rate, or EAR (annual percentage yield), of this loan?
round the answer to two decimal places in percentage form.
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Forecasting Methods And Applications
Authors: Spyros G. Makridakis, Steven C. Wheelwright, Rob J Hyndman
3rd Edition
0471532339, 9780471532330
