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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I would appreciate it If you could also explain how to plug this into a financial calculator
Transcribed Image Text:The effective annual rate (EAR) for a loan with a stated APR of 4% compounded quarterly is closest to:
A. 4.87%
B. 5.28%
C. 4.47%
D. 4.06%
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