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Home Q & A Board Other Fields Homework Help Business Finance
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johnpaech johnpaech
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Posts: 1098
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6 years ago
The effective annual rate (EAR) for a loan with a stated APR of 10% compounded quarterly is closest to:
A) 9.65%
B) 10.00%
C) 10.38%
D) 12.50%
Textbook 
Corporate Finance: The Core

Corporate Finance: The Core


Edition: 4th
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wrote...
#1
6 years ago
C
Explanation:  C) EAR = (1 + APR/k)k - 1 = (1 + .10/4)4 - 1 = .1038 or 10.38%
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