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Why does each method of quoting interest have its specific uses (i.e., for each of the methods of quoting interest; EAR, APR, real, and nominal.)

Why does each method of quoting interest have its specific uses (i.e., for each of the methods of quoting interest; EAR, APR, real, and nominal.) Can you name a situation where that rate might be more useful than any one of the others?

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