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%

---

Definitions:

Milliliters

A measurement of capacity in the metric system, equivalent to 0.001 liters, frequently utilized for quantifying liquid substances.

Liter

A unit of volume in the metric system, equal to 1,000 cubic centimeters or approximately 0.26 gallons.

Amoxicillin

A widely used antibiotic that is part of the penicillin group, effective in treating a variety of bacterial infections by stopping their growth.

Medication

Substances used for medical treatment, especially for the diagnosis, treatment, or prevention of disease.