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:

Intrastate Commerce

Business activities that have no out-of-state connections.

Interstate Commerce

Interstate commerce refers to any trade, traffic, or transportation involving the crossing of state lines within the United States, governed by federal regulations.

Local Commerce

The exchange of goods and services within a particular geographic area, usually within the confines of a city or town.

Can Spam Act

A federal law designed to reduce the use of unsolicited email, commonly known as spam, on the Internet.