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the effective annual percentage rate may be different that the stated APR (annual percentage rate) because: (Points : 1) compounding occurs more often than once

the effective annual percentage rate may be different that the stated APR (annual percentage rate) because: (Points : 1)

compounding occurs more often than once a year.

extra fees are added to most loans.

banks are allowed to hide the real cost of borrowing.

the APR assumes semiannual compounding

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