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The annual percentage rate: A. is lower than the effective annual rate as long as the interest is compounded multiple times a year. B. is

The annual percentage rate:

A.

is lower than the effective annual rate as long as the interest is compounded multiple times a year.
B.

is the same as the effective annual rate.
C.

is higher than the effective annual rate when interest is compounded quarterly.
D.

is the actual cost of a loan with monthly payments.

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