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Your bank is offering a term deposit that will earn investors an EAR of 14.00%. Your manager asks you to quote this as an APR
Your bank is offering a term deposit that will earn investors an EAR of 14.00%. Your manager asks you to quote this as an APR with quarterly compounding. What is the correct APR?
| 13.32% | ||
| 14.00% | ||
| 13.17% | ||
| 13.54% |
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Options Futures And Other Derivatives
Authors: John C. Hull
8th Edition
0132164949, 9780132164948
