Question Help P 5-8 (similar to) You have found three investment choices for a one-year...
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Question Help P 5-8 (similar to) You have found three investment choices for a one-year deposit: 10.8% APR compounded monthly, 10.8% APR compounded annually, and 10.0% APR compounded daily. Compute the EAR for each investment choice. (Assume that there are 365 days in the year.) (Note: Be careful not to round any intermediate steps less than six decimal places.) The EAR for the first investment choice is %. (Round to three decimal places.) P 5-4 (similar to) Question Help You are considering two ways of financing a spring break vacation. You could put it on your credit card, at 15% APR, compounded monthly, or borrow the money from your parents, who want an interest payment of 9% every six months. Which is the lower rate? (Note: Be careful not to round any intermediate steps less than six decimal places.) The effective annual rate for your credit card is %. (Round to two decimal places.)
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