Answer :
What is the effective annual rate for an apr of 15.20 percent compounded monthly EAR = (1 + .1520/12)12 - 1 = .1630, or 16.30%
What is the effective annual interest rate of 14.9% continuously compounded? A. 15.62%.
Example: A deposit with a specified interest rate of 10% compounded monthly has an APR of 10.47% pa. For continuous compounding, the effective interest rate calculator uses the formula i=er−1. The Annual Interest Rate (R) is the nominal or "marked interest rate" expressed as a percentage.
The effective interest rate is the amount of interest actually owed or received when compounding is taken into account. APR is APR. That is, the total amount of interest he pays in one year on the amount borrowed.
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