Equivalent annual rate ear
27 Nov 2016 One of these types of interest rates accounts for compound interest, On the other hand, effective annual percentage rate, also known as EAR The annual percentage rate (APR) that you are charged on a loan may not be divided: you are taking daily periodic rate 0.06274%, which is equal 22.9/365. To compare two interest rates, you need to be able to evaluate them during the same period. For example, we can find the annual interest rate equivalent to a