An 8% APR with Monthly Compounding Is Closest to Which

question 85

Multiple Choice

An 8% APR with monthly compounding is closest to which of the following?

• A) an EAR of 6.7%
• B) an EAR of 8.3%
• C) an EAR of 8.5%
• D) an EAR of 7.72%

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Definitions:

Promotional Mix

The promotional mix is the combination of marketing communication tools and strategies a company uses to promote its brand or products, including advertising, sales promotion, public relations, personal selling, and direct marketing.

Major Tools

Primary instruments or resources used to carry out a specific task or function.

Differentiates Product

The process or strategy of making a product stand out from its competitors in the market.

Publicity

An aspect of public relations consisting of any message about your company communicated through the mass media that you do not pay for.