Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Concept explainers
Question
Find the APR, or stated rate, in each of the following cases.
Note: Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16. Use 365 days in a year.
*From a previous question, i learned that I should use APR=[(1+EAR)1/m-1]*m, but im still not getting the correct answer. I dont think im following the correct steps to solve the equation properly.
Transcribed Image Text:Stated Rate (APR)
%
%
%
%
Number of Times
Compounded
Semiannually
Monthly
Weekly
Daily
Effective Rate
(EAR)
13.00
9.00
12.00
10.00
%
%
%
%
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