Question: 39
(Choose 1 answer)
Beautinator Cosmetics borrowed $152,300 from a bank for three years. If the quoted rate (APR) is 11.75 percent.
compounded daily, what is the effective annual rate (EAR)? (Round to one decimal place.)
A. 11.7%
B. 14.3%
C. 12.5%
D. 11.6%
