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Annual percentage rates can be converted to effective annual rates by means of the following formula: [1 + (APR/ n )] n - 1 (APR)(
Annual percentage rates can be converted to effective annual rates by means of the following formula:
[1 + (APR/n)]n - 1 | ||
(APR)(n) | ||
(APR/n) | ||
(periodic rate)(n) |
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