Question
A. The effective annual interest rate cannot be less than the annual percentage rate. true false B. What is the APR on a loan that
A. The effective annual interest rate cannot be less than the annual percentage rate.
true
false
B.
What is the APR on a loan that charges interest at the rate of 1.4% per month?
| 10.20% | ||
| 14.00% | ||
| 16.80% | ||
| 18.16% |
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Intermediate Financial Management
Authors: Eugene F Brigham, Phillip R Daves
14th Edition
0357516664, 978-0357516669
