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QUESTION 28 When borrowing money, you want to know the ____ interest rate because ____. nominal; it is the easiest to find. effective; it is

QUESTION 28

When borrowing money, you want to know the ____ interest rate because ____.

nominal; it is the easiest to find.

effective; it is the true cost of borrowing

risk free; that is what the government pays

Fed funds; that is what you would pay the bank

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