Multiple Choice
Compounding the annual percentage rate (APR) four times a year is equivalent to:
A) the annual percentage rate (APR) quoted by a financial institution.
B) the annual percentage rate (APR) compounded semi-annually.
C) the effective annual rate (EAR) annually.
D) the effective annual rate (EAR) semi-annually
E) the effective annual rate (EAR) quarterly.
Correct Answer:
Verified
Correct Answer:
Verified
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