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18 - Which of the following expressions is used to find the Annual Effective Rate of a bank loan at 12% annual rate when the

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18 - Which of the following expressions is used to find the Annual Effective Rate of a bank loan at 12% annual rate when the interest period is 3 months? a) [1+ (0.12/3)]4 - 1 b) O [1+ (0.12/4)13 - 1 c) O 1/[1+ (0.12/3) ]4 d) [1+ (0.12/4)14 - 1 Leave blank

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