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Regarding the discount rate of a cash flow, 24% per year compounded monthly is equivalent to 2% per month compounded monthly(True or False?) In the

Regarding the discount rate of a cash flow, 24% per year compounded monthly is equivalent to 2% per month compounded monthly(True or False?)

In the above statement, the 24% is called the effective (annual) discount rate. (True or False?)

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