# Question & Answer: Find the APR, or stated rate, in each of the following cases (Do not round intermediate calculations. Enter your answers as…..

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Find the APR, or stated rate, in each of the following cases (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.):

Effective Rate (EAR) Number of Times Compounded Semiannually Monthly Weekly Infinite Stated Rate e (APR) 12.0 9.7 12.4

## Expert Answer

EAR=(1+APR/m)^m-1

where m=compounding periods

1.

0.111=(1+APR/2)^2-1

(1+0.111)^(1/2)=1+APR/2

Hence APR=[(1+0.111)^(1/2)-1]*2

=10.81%(Approx).

2.

0.12=(1+APR/12)^12-1

APR=[(1.12)^(1/12)-1]*12

=11.39%(Approx).

3.

0.097=(1+APR/52)^52-1

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