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Q6. Are the following statements correct or not? If not, correct the statements. [10 points] (1) periodic rate = APR X compounding frequency. (2) APR

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Q6. Are the following statements correct or not? If not, correct the statements. [10 points] (1) periodic rate = APR X compounding frequency. (2) APR is always lower than EAR. (3) Future value is always greater than present value

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