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Im having trouble understanding when to simply calculate the monthly nominal interest rather than effective monthly interest? When do you use the k=(1+QR/m) ^ m/f

Im having trouble understanding when to simply calculate the monthly nominal interest rather than effective monthly interest? When do you use the k=(1+QR/m) ^ m/f formula rather than just dividing the interest rate by number of intervals (e.g 0.10/12)?

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