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A bank is offering a money market account with
A bank is offering a money market account with an APR of 5%. What is the EAR offered by...
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A bank is offering a money market account with an APR of 5%. What is the EAR offered by the bank if the compounding interval is (a) annual? (b) monthly? (c) weekly? (d) daily?
Answer rating: 100% (QA)
The Effective Annual Rate EAR takes into account the compounding frequency of interest providing a m
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