Question
You plan to apply for a loan from Bank of American, The nominal annual interest rate for this loan is 7.76 percent compounded daily(with 365-day)
You plan to apply for a loan from Bank of American, The nominal annual interest rate for this loan is 7.76 percent compounded daily(with 365-day)
What is the effective annual rate or EAR(annual percentage)of this loan
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Risk Management And Financial Institution
Authors: John C. Hull
2nd Edition
0136102956, 9780136102953
