Question
You work at a car dealership that wants to charge clients a rate of 4.5%(EAR). They want their quoted rate to have daily compounding. What
You work at a car dealership that wants to charge clients a rate of 4.5%(EAR). They want their quoted rate to have daily compounding. What is the rate they will quote? Furthermore, what is the rate composed of and why is this rate preferable for the dealership to use?
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Analysis for Financial Management
Authors: Robert C. Higgins
10th edition
007803468X, 978-0078034688
