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A compound interest rate is normally quoted with two components: 1 ) A number for the annual interest rate, and 2 ) Words stating the

A compound interest rate is normally quoted with two components:

1)

A number for the annual interest rate, and

2)

Words stating the compounding frequency.

Together, what are these components are called?

Multiple choice question.

the periodic interest rate.

the compounding rate package.

the compounding quotation.

the nominal interest rate.

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