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Find the APR, or stated rate, in each of the following cases


Find the APR, or stated rate, in each of the following cases (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g. 32.16.): 



Stated Rate (APR)Number of Times CompoundedEffective Rate (EAR)

%Semiannually 11.4%


Monthly12.3


Weekly10.0


Infinite13.7


business   finance   
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Answer #1

APR(semi-annually) = 2[(1.114)1/2 - 1] = 11.09%

APR(monthly) = 12[(1.123)1/12 - 1] = 11.66%

APR(weekly) = 52[(1.10)1/52 - 1] = 9.54%

APR(continuously)= log(1.137)/log(e) = 12.84%

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