A loan that compounds interest monthly has an EAR of 15.40 percent. What is the APR?

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Fundamentals of Corporate Finance

ISBN: 978-0077861629

8th Edition

Authors: Stephen A. Ross, Randolph W. Westerfield, Bradford D.Jordan

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Question Posted: Jun 16, 2012 12:31 AM

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A loan that compounds interest monthly has an EAR of 15.40 percent. What is the APR?

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Formula EAR 1APR12121 01...View the full answer

Fundamentals of Corporate Finance

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