Gifts Galore Inc. borrowed $1.5 million from National City Bank (NCB). The loan was made for three
Question:
a. The APR on the loan was 11.25 percent. What was the EAR?
b. What would the EAR of the loan be if the note required discount interest?
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a The quarterly interest rate is equal to 11254 28125 Ef...View the full answer
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