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

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