If the interest rate is 10 percent per week, what is the EAR? [Please note that...
If the interest rate is 10 percent per week, what is the EAR? [Please note that 10 percent per week is not an ARP. It is a weekly rate (Quoted rate/m)]. Assume 52 weeks in a year. Round off your answer to the nearest whole number.
Homework Answers
EAR = (1 + 0.10)^52 - 1
EAR = 141.0429319844
EAR = 14104.29319844%
EAR = 14104%
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If the interest rate is 10 percent per week, what is the EAR?
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