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4. An interest rate is an effective rate under all of the following conditions EXCEPT when: A) The compounding period is not stated B) The

4. An interest rate is an effective rate under all of the following conditions EXCEPT when: A) The compounding period is not stated B) The interest period and compounding period are the same C) The interest statement says that the interest rate is effective D) The interest period is shorter than the compounding period

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