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Question Which of the following is a correct statement? Possible Answers Under simple interest, the effective rate of interest is constant in all years. B

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Question Which of the following is a correct statement? Possible Answers Under simple interest, the effective rate of interest is constant in all years. B Under simple interest, the effective rate of interest increases with time. Under simple interest, the effective rate of interest decreases with time. D Under compound interest, the effective rate of interest decreases with time. E Under compound interest, the effective rate of interest increases with time

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