Which of the following APRs compounded monthly is equivalent to an APR of 13.65% compounded quarterly...
Homework Answers
APR compounded monthly=((1+rate compounded quarterly/4)^(4/12)-1)*12=((1+13.65%/4)^(4/12)-1)*12
=13.498%
The choices are obviously wrong as the question gives APR of
13.65% so the choices should be close to this number
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Which of the following APRs compounded monthly is equivalent to an
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