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need asap Which one of the following statements is true? (7 points) a. Regardless of the compounding period, the effective annual rate will always be

need asap

Which one of the following statements is true? (7 points) a. Regardless of the compounding period, the effective annual rate will always be lower than or equal to the annual percentage rate (APR). b. EARs are always annual rates. c. An APR is an effective rate. d. The more frequent the compounding period, the lower the effective annual rate.

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