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Mathematics, 02.11.2020 19:50 cailinhannon4828

Orlando has a loan with an effective interest rate of 7.918%, compounded annually. Which of the following must be true?
I. In the effective rate formula, n is equal to one.
II. The nominal rate is 7.918%.
III. The Federal Funds Rate is static.
a. I and II
b. ll only
c. III only
d. I, II, and III

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