Question
You plan to apply for a loan from Bank of America. The nominal interest rate for this loan is 17.73 percent, compounded daily (with a
You plan to apply for a loan from Bank of America. The nominal interest rate for this loan is 17.73 percent, compounded daily (with a 365 day per year.) What is the effective annual rate (EAR) annual percentage yield, of this loan?
Round to two decimal places in percentage form.
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Personal Finance
Authors: Jane King, Mary Carey
2nd Edition
0198748779, 9780198748779
