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Which of the following statements about the interest rate conversion formula period rate = annual nominal rate / m is NOT true? Group of answer
Which of the following statements about the interest rate conversion formula period rate = annual nominal rate / m is NOT true?
Group of answer choices
m = 1 for annual compounding
m = 3 for semiannual compounding
m = 4 for quarterly compounding
m = 12 for monthly compounding
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