You deposit $1 for six months, and thus your balance increases from $1 to $1.0431 (i.e., for six month, the interest rat

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answerhappygod
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You deposit $1 for six months, and thus your balance increases from $1 to $1.0431 (i.e., for six month, the interest rat

Post by answerhappygod »

You deposit $1 for six months, and thus your balance increases
from $1 to $1.0431 (i.e., for six month, the interest rate is
4.31%). Regarding this investment, compute the annualized
percentage rate and the effective annual rate.
APR = ??
EAR = ???
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