You have a car loan with a nominal rate of 4.95 percent. With interest charged monthly, what

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You have a car loan with a nominal rate of 4.95 percent. With interest charged monthly, what is the effective annual rate (EAR) on this loan? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

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Fundamentals of Investments Valuation and Management

ISBN: 978-0077283292

5th edition

Authors: Bradford D. Jordan, Thomas W. Miller

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Posted Date: Mar 08, 2024 12:03 AM

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You have a car loan with a nominal rate of 4.95 percent. With interest charged monthly, what

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To calculate the Effective Annual Rate EAR on a loan with a nominal rate of 495 and interest charged ... View the full answer

Fundamentals of Investments Valuation and Management

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