Discussion: Interest Rates Discussion Due: Day 4, 11:59 p.m. E.T. Grad This discussion is worth 10 points and counts toward ing: Participation, which makes up 15% of your final grade. Banks, credit card companies, and other lenders, state interest rates that are compounded with a frequency not equal to annual, e.g. compounded monthly, etc... There are 'historical reasons for quoting rates in such a manner, but no matter. How does the quoted rate affect the amount of interest you would pay for a monthly car or home loan? What kind of experiences do you have with a provider of credit listing rates, and then attempting to explain that stated rate in terms of 'actual, or 'effective,' terms