Question
You plan to apply for a loan from Bank of America. The nominalinterest rate for this loan is 7.67 percent, compounded daily (witha 365 day
You plan to apply for a loan from Bank of America. The nominalinterest rate for this loan is 7.67 percent, compounded daily (witha 365 day per year.) What is the effective annual rate (EAR) annualpercentage yield, of this loan?
Round to two decimal places in percentage form.
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Modern Principles of Economics
Authors: Tyler Cowen, Alex Tabarrok
3rd edition
1429278390, 978-1429278416, 1429278412, 978-1429278393
