Let’s say there is an investment product whose Annual Percentage Rate (APR) is 8%. If this investment product compounds quarterly (that is, four times a year), what will be the Effective Annual Interest Rate (EAR)?

Effective annual interest rate= 8.24%

Explanation:

Giving the following information:

Interest rate= 8% compounded quarterly

First, we need to calculate the nominal quarterly interest rate:

i= 0.08/4= 0.02

Now, the effective annual interest rate:

effective annual interest rate= (1+i)^n - 1

effective annual interest rate= 1.02^4 - 1

effective annual interest rate= 0.824 = 8.24%

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the correct answer is:

it required the president to inform congress within forty-eight hours of any new troop commitment.

the war powers resolution (1973) is a federal law designed to limit the u.s. president’s ability to initiate or intensify military actions abroad without the approval of the congress.

it establishes that the president can send armed forces into action abroad only by declaration of war by congress, statutory authorization, or in case of a national emergency created by attack upon the united states, its territories or possessions, or its armed forces.

it requires the president to notify congress within 48 hours of sending armed forces to military action.