What is your effective annual rate

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Reference no: EM13720185

1. You make regular deposits of $166 at the end of each year for 5 years, into an account paying 9.6% interest. How much will you have in the account at the end, right after you make the last deposit?

2. You have an account promising you 12.5% APR with monthly compounding. What is your effective annual rate (EAR)? Enter answer in percents, not decimals.

Reference no: EM13720185

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