BUSN 5200 QD F2 2022: A loan is offered with monthly payments and a 14.5 percent APR. What is the loan’s effective annual rate (EAR)?
Posted: December 21st, 2022
A loan is offered with monthly payments and a 14.5 percent APR. What is the loan’s effective annual rate (EAR)?
15.50 percent
{(1 + 0.145/12) ^ 12} – 1 = 0.1550
14.97 percent
15.63 percent
15.13 percent
Expert paper writers are just a few clicks away
Place an order in 3 easy steps. Takes less than 5 mins.