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    Effective annual rate (EAR) for investment choices

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    You have found three investment choices for a one-year deposit: 10% APR compounded monthly, 10% APR compounded annually, and 9% APR compounded daily. Compute the Effective Annual Rate (EAR) for each investment choice. (Assume that there are 365 days in the year). Please show in Excel.

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    Solution Summary

    Response provides the steps to Compute effective annual rate (EAR) for investment choices