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Your local bank is offering 6% APR on a new savings account. You have calculated the EAR to be 6.18% What is the periodic rate

Your local bank is offering 6% APR on a new savings account. You have calculated the EAR to be 6.18%

What is the periodic rate expressed as a decimal?

a) .5

b) .115

c) .0015

d) .8

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