If the interest on a loan compounds more frequently than annually, the effective annual rate...
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If the interest on a loan compounds more frequently than annually, the effective annual rate on the loan will be: Group of answer choices higher than the annual percentage rate. equal to the annual percentage rate. lower than the annual percentage rate.
If the interest on a loan compounds more frequently than annually, the effective annual rate on the loan will be:
Group of answer choices
higher than the annual percentage rate.
equal to the annual percentage rate.
lower than the annual percentage rate.
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