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Which of the following is TRUE Question 12Answer a. The APR on a loan requiring monthly payments is the annual interest rate you actually pay.

Which of the following is TRUE

Question 12Answer

a.

The APR on a loan requiring monthly payments is the annual interest rate you actually pay.

b.

When comparing investments, it is best to rely solely on the quoted rates.

c.

With monthly compounding, the APR will be lower than the effective annual rate.

d.

An APR is the interest rate per period divided by the number of periods per year.

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