Required:Banks, credit card companies, and other lenders, state interestrates that are compounded with a...Required:Banks,...

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Accounting

Required:
Banks, credit card companies, and other lenders, state interestrates that are compounded with a frequency not equal to annual,e.g. compounded monthly, etc... There are 'historical' reasons forquoting rates in such a manner, but no matter. How does the quotedrate affect the amount of interest you would pay for a monthly caror home loan? Write 100 words.
What kind of experiences do you have with a provider of creditlisting rates, and then attempting to explain that stated rate interms of 'actual,' or 'effective,' terms? Write 100words.
Please write in your own words. Please don't copy fromanywhere.

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Banks credit card companies and other lenders state interest rates that are generally compounded monthly How its impact on yearly interest rate Suppose credit card company charged interest rate 12 per year If credit card company See Answer

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In: AccountingRequired:Banks, credit card companies, and other lenders, state interestrates that are compounded with a...Required:Banks, credit card companies, and other lenders, state interestrates that are compounded with a frequency not equal to annual,e.g. compounded monthly, etc... There are 'historical' reasons forquoting rates in such a manner, but no matter. How does the quotedrate affect the amount of interest you would pay for a monthly caror home loan? Write 100 words.What kind of experiences do you have with a provider of creditlisting rates, and then attempting to explain that stated rate interms of 'actual,' or 'effective,' terms? Write 100words.Please write in your own words. Please don't copy fromanywhere.