Lecture Notes on Time Value of Money
10.25% is called effective annual rate (EAR) Effective Annual Rates. EAR is computed in three steps. Divide the quoted rate by the number of times the interest is compounded. Add 1 and raise it to the power of number of times the interest is compounded. Subtract 1. So. EAR = (1 + Quoted rate / m)m – 1. Where m is the number of times the ... ................
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