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Tpy6a [65]
3 years ago
12

Find the EAR in each of the following cases (Use 365 days a year. Do not round intermediate calculations and round your final an

swers to 2 decimal places. (e.g., 32.16)):
Stated Rate (APR) Number of Times Compounded Effective Rate (EAR)
8.3 % Quarterly %
17.3 Monthly
13.3 Daily
10.3 Infinite
Business
1 answer:
DENIUS [597]3 years ago
8 0

Answer:

8.3/4= 2.075%

EAR= ((1+R)^4)-1

1.0275^4= 1.085-1

=8.5% is the EAR

17.3/12=1.441%

1.01441^12 -1=1.1873

EAR= 18.73%

13.3/365=0.0364%

1.000364^365=1.142

14.2%

For infinite compounding

EAR= E^rt

R= 10.3

t=1

E^10.3

=1.108

= 10.8%

Explanation:

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