Find the EAR in each of the following cases (Do not include the percent signs (%
ID: 2718693 • Letter: F
Question
Find the EAR in each of the following cases (Do not include the percent signs (%). Enter rounded answers as directed, but do not use the rounded numbers in intermediate calculations. Use 365 days in a year. Round your answers to 2 decimal places (e.g., 32.16)):
Find the EAR in each of the following cases (Do not include the percent signs (%). Enter rounded answers as directed, but do not use the rounded numbers in intermediate calculations. Use 365 days in a year. Round your answers to 2 decimal places (e.g., 32.16)):
Explanation / Answer
Calculate EAR
1. EAR = [ 1+ ( 0.09 / 4 )4 - 1 ] = 9.3083%
2. EAR = [ 1 + ( 0.17 / 12 ) 12 - 1 ] = 18.3892%
3. EAR = [ 1 + ( 0.15 / 365)365 - 1] = 16.1798%
4. EAR = [ 1 + ( 0.11 / 2 )2 - 1] = 11.3025%.
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