1. A loan has a stated interest rate of 0.82% every month. What is the EAR for this loan? Be careful with this wording. It is intentional. 2. A loan has a stated interest rate of 6.3% compounded quarterly. What is the EAR for this loan?
2. A loan has a stated interest rate of 6.3% compounded quarterly. What is the EAR for this loan?
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1. A loan has a stated interest rate of 0.82% every month. What is the EAR...
A loan has a stated interest rate of 3.5% every quarter. What is the EAR for this loan? Be careful with the wording in the problem. It is intentional. The correct answer is 14.7523, but using the formula EAR=( 1+r/n)^n-1 I get 3.55.
The effective annual rate (EAR) for a loan with a stated APR of 6% compounded quarterly is closest to: A. 6.14% B. 7.36% C. 7.98% D. 6.75%
Find the EAR in each of the following cases Stated Rate (APR) Number of Times Compounded Effective Rate (EAR) 11.50 % Quarterly % 14.50 % Monthly % 17.50 % Daily % 13.50 % Semiannually %
1. If the periodic rate is 2%, and the interest rate is compounded quarterly, what is the APR? 2. If the APR is 11% with semi-annual compounding, what it the EFF or Effective Annual Rate (EAR)? 3. A lender offers to lend you $250,000. The loan calls for annual payments $25,000 for 20 years. What interest rate is the company charging you?
1. Callan Muffley borrows $900,000 to buy a house. The stated annual interest rate on the loan is 3.6% with monthly payments over 40 years (3.6% annual, compounded monthly). a) Set up the amortization schedule for the first month of the loan. (4 Points) b) Set up the amortization schedule for the loan with exactly six months to go.(4 Points) Interest Reduction inEnding Principal Principal Balance Month Beginning MonthlyI PrincipalPayment Balance e) What are Callan's total payments to principal during...
What is the EAR (effective annual rate) of a credit card that has a stated rate of 14.9%? The credit card compounds interest monthly. Record your answer as a decimal, so if the answer is 16.32% record the answer as 0.1632.
d0. What is the nominal annual rate of interest compounded quarterly if a loan of $21,500 is paid in seven years by payments of $2,000 made at the end of every six months?
Find the EAR for the stated rate (APR) of 12.4 percent compounded quarterly. (Enter your answer as a percentage, omit the "%" sign in your response, and round your answer to 2 decimal places. For example, 0.12345 or 12.345% should be entered as 12.35.)
What is the effective annual rate (EAR) of a 9 percent annual stated rate that is compounded daily. (assume 365 days per year)? O9.2025% O 9.4162% 09.3083% 9.3807% O None of these are correct.
What is the effective annual rate? What is the EFF% or EAR for a nominal rate of 20% compounded semiannually? Compounded quarterly? Compounded monthly? Compounded daily?