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sandyykn6031
23.06.2020 •
Physics
If an instalment plan quotes a monthly interest rate of 4%, the effective annual/yearly interest rate would be . 4% Between 4% and 48% 48% More than 48%
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Ответ:
More than 48%
Explanation:
If the interest is computed monthly on the outstanding balance, it has an effective annual rate of ...
(1 +4%)^12 -1 = 60.1% . . . . more than 48%
Ответ: