I have an EAR of 16.08% but I need to convert is to a quarterly APR -- I'm not sure what formula will get me there...
Any help would be greatly appreciated.
Thanks,
Ashley
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I have an EAR of 16.08% but I need to convert is to a quarterly APR -- I'm not sure what formula will get me there...
Any help would be greatly appreciated.
Thanks,
Ashley
APR = [(EAR+1)^(1/m) - 1] x m
= [(.1608+1)^(1/4) - 1] x 4
= 15.19 %
What is conversion for the following number in Excel formula format
Stated Rate (APR) Number of times compounded Effective Rate (EAR)
2 10.3
12 9.4
52 7.2
Infinite 15.90
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