Find the APR, or stated rate, in each of the following cases. (Use 365 days in a

Question

Find the APR, or stated rate, in each of the following cases. (Use 365 days in a year. Enter rounded answers as directed, but do not use rounded numbers in intermediate calculations. Enter your answers as a percent rounded to 2 decimal places (e.g., 32.16).)

Find the APR, or stated rate, in each of the following cases. (Use 365 days in a year. Enter rounded answers as directed, but do not use rounded numbers in intermediate calculations. Enter your answers as a percent rounded to 2 decimal places (e.g., 32.16).)

Explanation / Answer

Stated APR (Semiannually)=((1+14%)^(1/2)-1)*2=13.54%

Stated APR (Monthly)=((1+10%)^(1/12)-1)*12=9.57%

Stated APR (Weekly)=((1+11%)^(1/52)-1)*52=10.45%

Stated APR (Daily)=((1+9%)^(1/365)-1)*365=8.62%

The above should be answer....

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