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Effective Annual Rate (EAR), also called Annual Equivalent Rate (AER), is the actual annual interest rate accounting for compounding within the year. It allows comparison of loans or investments with different compounding frequencies.
Hướng dẫn từng bước
- 1EAR = (1 + r/n)^n − 1
- 2r = nominal (stated) annual rate, n = compounding periods per year
- 3Daily compounding always gives a higher EAR than monthly, which is higher than annual
- 4APY (Annual Percentage Yield) on savings accounts IS the EAR
Ví dụ có lời giải
đầu vào
12% nominal, monthly compounding
Kết quả
EAR = 12.68%
(1 + 0.12/12)^12 − 1
đầu vào
12% nominal, daily compounding
Kết quả
EAR = 12.75%
(1 + 0.12/365)^365 − 1
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