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Business, 18.06.2021 20:00 Mercedes12152002

If a loan has a nominal annual rate of 8%, then the effective rate can never be greater than 8%. b. If a loan or investment has annual payments, then the effective, periodic, and nominal rates of interest will all be different. c. The present value of a 3-year, $150 annuity due will exceed the present value of a 3-year, $150 ordinary annuity. d. The proportion of the payment that goes toward interest on a fully amortized loan increases over time.

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If a loan has a nominal annual rate of 8%, then the effective rate can never be greater than 8%. b....
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