Mathematics, 03.03.2021 01:00 elisaalonso8805
When calculating the effective rate of a loan, which statement or statements must be true if n is greater than 1?
I. The length of the loan is greater than a single year.
II. The effective rate will exceed the nominal rate.
III. The interest will be compounded monthly.
a.
II only
b.
II and III
c.
I and III
d.
I, II, and III
Answers: 1
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