Mathematics, 03.02.2020 03:04 arivalen

Thomas has a loan with a nominal interest rate of 6.4624% and an effective interest rate of 6.4715%. which of the following must be true?
i. the loan has a duration greater than one year.
ii. the interest on thomas’s loan is compounded more than once yearly.
iii. the economy was strong when thomas took out the loan.

Answers: 3

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Thomas has a loan with a nominal interest rate of 6.4624% and an effective interest rate of 6.4715%....