8% APR compounded semi-annually equals ______ APR compounded annually a) 7.85 % b) 8.16 % c) 8.81 % d) 7.92 % e) 8.01 % I am not sure how to calculate this, and am not sure of what formula to use. Any help would be appreciated.
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Originally Posted by Shapeshift 8% APR compounded semi-annually equals ______ APR compounded annually a) 7.85 % b) 8.16 % c) 8.81 % d) 7.92 % e) 8.01 % I am not sure how to calculate this, and am not sure of what formula to use. Any help would be appreciated. $\displaystyle \displaystyle \text{EAR}=\left(1+\frac{i}{n}\right)^n-1$
I got 8.16%. Thanks!!
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