Suppose United Bank offers to lend you $10,000 for one year at a nominal annual rate of 8.00%, but you must make interest payments at the end of each quarter and then pay off the $10,000 principal amount at the end of the year. What is the effective annual rate on the loan?
A. 8.24%
B. 8.45%
C. 8.66%
D. 8.88%
E. 9.10%
Answer: A
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A. car decals B. brochures C. billboards D. skywriting E. sports arena signs
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Indicate whether the statement is true or false
Some critics state that advertising hampers consumer choice. Which of the following statements could weaken their argument?
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