Identify the following interest rate statements as either nominal or effective: (a) 1.3% per month; (b) 1% per week, compounded weekly; (c) nominal 15% per year, compounded monthly; (d) effective 1.5% per month, compounded daily; and (e) 15% per year, compounded semiannually.
What will be an ideal response?
(a) effective (b) effective (c) nominal (d) effective (e) nominal
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Fill in the blank(s) with correct word
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Answer the following statement true (T) or false (F)
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Answer the following statement true (T) or false (F)