What order of operations would I use to solve APR
1.0646 = [1 + (APR)(92 / 365)]365 / 92 ;
1.0646 = [1 + (APR) * (92/365)] ^ (365/92)
1.0646 ^ (92/365) = 1 + (APR) * (92/365)
1.0646 ^ 0.252055 = 1 + (APR) * 0.252055
1.01590 = 1 + (APR) * 0.252055
1.01590 - 1 = (APR) * 0.252055
0.01590 = (APR) * 0.252055
0.01590 / 0.252055 = APR
APR = 0.0631 or 6.31%
What order of operations would I use to solve APR 1.0646 = [1 + (APR)(92...
Hi, Could you show me how to solve this APR problem with only using a financial calculator please? T hank you in advance f Fundamentals of Corporate Fin... U 7 8 P 13QP140P 15QP 160P170P Chapter 6 Problem 15QP vrov EAR= Effective Annual Rate Step 2 Do Calculate Annual Percentage Rate: APR-m (1 + Ear ). -- APR=365/(1+0.165) –1] APR=365|(1.166): -1] APR=365[1.0004183 – 1] APR=365 0.0004183] APR=0.1528x100 APR=15.28% Hence, Annual percentage rate becomes 15.28%
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