Find the EAR in each of the following cases (Use 365 days a year. Do not round intermediate calculations and round your final answers to 2 decimal places. (e.g., 32.16)):
|Stated Rate (APR)||Number of Times Compounded||Effective Rate (EAR)|
Expert Chegg Question Answer:
Faq: *** how can I solve this using excel? You can use EFFECT function on excel. For example: In case of 8.3% APR, quarterly compounding, type =effect(8.3%,4) in excel workbook.