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PLEASE SHOW FORMULA Thus, higher the compounding periods, higher the Effective Rate APR= PROBLEM 1 14.00% What is the effective rate of nominal rate, compounded

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Thus, higher the compounding periods, higher the Effective Rate

APR= PROBLEM 1 14.00% What is the effective rate of nominal rate, compounded annually semi-annually quarterly monthly daily Thus, higher the compounding periods, higher the Effective Rate

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