A 12% APR with Bi-Monthly Compounding Is Equivalent to an EAR

question 101

Multiple Choice

A 12% APR with bi-monthly compounding is equivalent to an EAR of:

• A)11.98%
• B)12.50%
• C)12.00%
• D)12.62%
• E)12.14%

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Definitions:

Subject Class

A classification system that organizes subjects or courses of study within an educational institution.

Predicate Class

A predicate class in logic and mathematics is a category defined by a certain property that holds for its members; it's essentially a set of objects that satisfy a specific predicate.

Universal

Pertaining to or involving all members of a class or category without exception, often used in the context of universal principles or statement in logic.

Categorical Proposition

A statement relating two categories or classes in a specific way, typically structured as assertions about all, some, or no members of these categories.