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Calculate the effective annual rate

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Question - Bright Star Bank pays a nominal annual (quoted) interest rate of 7.65 percent, compounded quarterly on your savings account. Calculate the effective annual rate, or EAR (annual percentage yield).

Reference no: EM132826680

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Calculate the effective annual rate : Bright Star Bank pays a nominal annual (quoted) interest rate of 7.65 percent, Calculate the effective annual rate, or EAR (annual percentage yield)
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