Question
If a loan is compounded monthly, the effective annual rate will always be ____________ the nominal rate. 1. equal to 2. less than 3. greater
If a loan is compounded monthly, the effective annual rate will always be ____________ the nominal rate. 1. equal to 2. less than 3. greater than 4. greater than 5. you cannot tell without further information
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Finance And Industrial Policy
Authors: Giovanni Cozzi, Susan Newman, Jan Toporowski
1st Edition
0198744501, 978-0198744504
