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Calculate the ear use all the days in a year

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Reference no: EM133006196

Problem 1: Charles uses the Norwalk Commercial Bank which pays an annual nominal rate of 4.8% but it compounds the money daily. Use 365 days in a year to calculate the EAR and enter as a percent to two places as in xx.xx %. Hint: To get this correct, you can not truncate intermediate calculations because you will not be precise enough in your final answer. To avoid problems store intermediate results in memory or write down all the significant digits and then renter all of them to continue.

Reference no: EM133006196

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