You are considering an investment account with one of the advertised commercial deposits from SyncFuture Bank. SynFuture's CD pays 8% APR, compounded semiannually. What is the investment's effective annual rate (rEAR)? (Round the answer to four decimal points.)
You are considering an investment account with one of the advertised commercial deposits from SyncFuture Bank. SynFuture's CD pays 8% APR, compounded semiannually. What is the investment's effective annual rate (rEAR)? (Round the answer to four decimal points.)
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 22PROB
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You are considering an investment account with one of the advertised commercial deposits from SyncFuture Bank. SynFuture's CD pays 8% APR, compounded semiannually. What is the investment's effective annual rate (rEAR)? (Round the answer to four decimal points.)
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