Question
Your credit card will charge you 16% APR in your balance. The interest is compounded monthly. What is the EAR? Enter your answer as a
Your credit card will charge you 16% APR in your balance. The interest is compounded monthly. What is the EAR?
Enter your answer as a decimal number, NOT as a percent. Round to 4 decimals. For example, 0.1234.
Part 2
You have a loan from a bank that has an EAR of 8%. If the interest is compounded quarterly, what is the APR?
Enter your answer as a decimal number, NOT as a percent. Round to 4 decimals. For example, 0.1234.
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Crowdfunding Personal Expenses
Authors: Salvador Briggman
1st Edition
1533254338, 978-1533254337
