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QUESTION
Question 10 If you invest money at 8% compounded monthly, what Effective Annual Rate (EAR) are you receiving?
Question 10 If you invest money at 8% compounded monthly, what Effective Annual Rate (EAR) are you receiving?
Question 10If you invest money at 8% compounded monthly, what Effective Annual Rate (EAR) are you receiving? Solution:EAR = (1 + I/m) n*m = (1 + 0.08/12)12 – 1 = 1.08299 – 1 = 0.08299 ~ 0.083...