Answered

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The annual percentage rate:
a. considers interest on interest.
b. is the actual cost of a loan with monthly payments.
c. is higher than the effective annual rate when interest is compounded quarterly.
d. is the interest rate charged per period divided by (1 + n), when n is the number of periods per year.
e. equals the effective annual rate when the interest on an account is designated as simple interest.

Sagot :

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