What is the EAR of an account that has a 6% APR if it compounds quarterly?

Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter22: Providing And Obtaining Credit
Section: Chapter Questions
Problem 4MC
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What is the EAR of an account that has a 6% APR if it compounds quarterly? 

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