A bank quotes a rate of 5.89 percent with an effective annual rate of 6.05 percent. Does

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A bank quotes a rate of 5.89 percent with an effective annual rate of 6.05 percent. Does the bank use annual, quarterly, or monthly compounding?

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Quantitative Investment Analysis

ISBN: 978-1119104223

3rd edition

Authors: Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, David E. Runkle

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Question Posted: Mar 21, 2018 05:44 AM

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A bank quotes a rate of 5.89 percent with an effective annual rate of 6.05 percent. Does

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Stated annual interest rate 589 percent Effective annual rate on bank ...View the full answer

Quantitative Investment Analysis

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