You Have an EAR of 9

question 52

Multiple Choice

You have an EAR of 9%. The equivalent APR with continuous compounding is ________.

• A) 8.47%
• B) 8.62%
• C) 8.88%
• D) 9.42%

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Definitions:

Imaginary Unit

The imaginary unit, denoted as \(i\), is a complex number that satisfies the equation \(i^2 = -1\).

Standard Form

A way of writing numbers using the digits 0-9, with each digit having a place value; in algebra, it refers to a specific way of writing equations.

Imaginary Unit

The imaginary unit, denoted as \(i\), is defined as the square root of \(-1\), used in complex number arithmetic.

Imaginary Unit

A complex number, usually denoted by i, defined as the square root of -1.