Orion Financial Services offers a nominal annual interest rate of 11.5%, compounded monthly. What is the Effective Annual Interest Rate (EAR)?
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What is the EAR of this financial accounting question?
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- Suppose you have received a credit card offerfrom a bank that charges interest at 1.4% per month,compounded monthly. What is the nominal interest(annual percentage) rate for this credit card? What isthe effective annual interest rate?A person pays interest on a loan semi - annually at a nominal annual interest rate of 16%. What is the most nearly effective annual interest rate?A loan is offered with monthly payments and a 17.00 percent APR. What’s the loan’s effective annual rate (EAR)?
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