APR and EAR, Financial Management

Assume a bank charges a 15.5% APR (annual percentage rate) on credit card holder compounds quarterly. What EAR (effective annual rate) is the bank is charging? What if they change compounding to bi-monthly? Compare the result from the bank perspective and the credit card holder perspective (your calculation should be set to 4 decimal places)
Posted Date: 6/11/2015 1:38:53 PM | Location : United States

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