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When you have a quoted rate given as an APR compounded per month on an account then: A ) If you divide the APR by
When you have a quoted rate given as an APR compounded per month on an account then:
A If you divide the APR by you will have the EMR
B If you take plus the APR to the root, you will have the EMR.
C If you want to know the actual balance on the account at the end of one year, take plus the APR and multiply by the initial balance.
D You can never recover the EAR as the APR is not the EAR.
E None of these statements are true.
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