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    Effective Annual Rate (EAR)

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    Your bank pays a quoted annual (nominal) rate of 12%. However, it compounds interest every week (52 times a year). What is the effective annual rate (EAR)?

    © BrainMass Inc. brainmass.com June 3, 2020, 8:54 pm ad1c9bdddf
    https://brainmass.com/business/interest-rates/effective-annual-rate-ear-157705
    $2.19

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