A bank pays a stated annual interest rate of 8 percent. What is the effective annual rate
Question:
A. Quarterly.
B. Monthly.
C. Continuous.
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A Use the formula for the effective annual rate Effective annual rate 1 Periodic ...View the full answer
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Related Book For
Quantitative Investment Analysis
ISBN: 9781119104223
3rd edition
Authors: Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, David E. Runkle
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