Mathematics, 13.10.2019 20:30, angelica7773

When calculating the effective rate of a loan, which statement or statements must be true if n is equal to 1?

i. the nominal rate equals the effective rate.

ii. the length of the loan is exactly one year.

iii. the interest is compounded annually.

a. i and iii

b. ii and iii

c. i only

d. iii only

i think it's a

Answers: 2

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When calculating the effective rate of a loan, which statement or statements must be true if n is eq...