Question: 9. Find the EAR in each of the cases. Use 365 days a year - Do not round intermediate calculations and round your final answer

9. Find the EAR in each of the cases. Use 365 days a year - Do not round intermediate calculations and round your final answer to 2 decimal places Stated Rate (APR) Number of Time Compounded Cash Flow 8% Quarterly ? 16% Monthly ? 12% Daily ? 15% Infinite ? 10. Eloville Bank want to earn an effective annual return on its consumer loans of 16 percent per year. The bank uses daily compounding interest on its loans. What interest rate is the bank required by law to report to potential borrowers? Explain why this rate is misleading to an uninformed borrower. Use 365 days a year - Do not round intermediate calculations and round your final answer to 2 decimal places

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