Based on the given rates, the APR for each period of compounding is:
- Semiannually 11.1 % = 10.8%
- Monthly 19.6% = 18.03%
- Weekly 10.5% = 9.99%
- Infinite 8.4% = 8.07%
What are the APRs?
The semiannual APR is:
= ( (1 + rate) ^ 1/ compounding periods - 1) x 2
= ( (1 + 11.1%) ¹/² - 1) x 2
= 10.8%
The monthly rate:
= ( (1 + 19.6%) ¹/ ¹²) - 1) * 12
= 18.03%
The weekly rate:
= ( (1 + 10.5%) ¹/ ⁵²) - 1) * 52
= 9.99%
The infinite rate:
= (Log (1 + rate)) / Loge
= Log (1 + 8.4%) / Log e
= 8.07%
Find out more on APR at https://brainly.com/question/2772156.
#SPJ1
