Your answer: Question 8 (CHAPTER 6) The EAR, or the effective annual rate, for a bank's...

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Answer 1

Answer #1

Page : loo APR or stated rate = (1+EAR) where , n = number of APR =((1108)383 - 1] xoloo = 7.70 %

Statement is True

Explanation:-If interest is compounded monthly then APR will be 7.72% and as we decrease compounding then APR increases.

Answer 2

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