Thomas has a loan with a nominal interest rate of 6.4624% and an effective interest rate of 6.4715%. which of the following must be true? i. the loan has a duration greater than one year. ii. the
interest on thomas’s loan is compounded more than once yearly. iii. the economy was strong when thomas took out the loan. a. i and ii b. ii only c. i and iii d. iii only

II. The interest on Thomas’s loan is compounded more than once yearly.

Step-by-step explanation:

If your effective rate is greater than your nominal rate, your loan is compounded more than once yearly. You can' figure out I. and III. with just this information.

c.35

step-by-step explanation:

8+13=21

21+8=29

29+6=35

10 down (bang1)

5 up

5down (2)

2.5 up

2.5 down (3)

1.25 up

1.25 down (4)

now add them up : )

hoped i lol