Explain the difference between the nominal and effective rates for compound interest?

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Finite Mathematics and Its Applications

ISBN: 978-0134768632

12th edition

Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair

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Question Posted: Feb 12, 2018 09:24 AM

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Explain the difference between the nominal and effective rates for compound interest?

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Nominal rate aka APR stated annual interest rate Effec...View the full answer

Finite Mathematics and Its Applications

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