Business & Finance Assignment | Custom Assignment Help
October 29th, 2019
1. EAR (effective percentage rate) vs APR (annual percentage rate)
Back when interest rates and inflation were about 18%, Congress passed the Truth in Lending Law, requiring lenders to show both figures to prospective borrowers. If the APR on a car loan is 6%, with interest compounded annually, what’s the EAR?
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What is the EAR if interest is compounded Monthly? if compounded Daily? WHY are these 3 answers different?Get business finance assignment homework help today