Multiple Choice
An 8% APR with monthly compounding is closest to which of the following?
A) an EAR of 6.7%
B) an EAR of 7.72%
C) an EAR of 8.3%
D) an EAR of 8.5%
E) an EAR of 9.14%
Correct Answer:
Verified
Correct Answer:
Verified
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