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Your company borrowed $45,000 from a bank. If the quoted rate (APR) is 10.9% and interest is compounded daily, what is the effective annual rate
Your company borrowed $45,000 from a bank. If the quoted rate (APR) is 10.9% and interest is compounded daily, what is the effective annual rate (EAR)?
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Introduction To Finance
Authors: Lawrence J Gitman, Jeff Madura
1st Edition
0201635372, 9780201635379
