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Which of the following help to correct for the market failure of imperfect information?
Equivalent Interest Rate
The interest rate that gives the same compounded financial outcome as other rates calculated over different time periods.
Nearest 0.01%
Rounding off a numerical figure to the closest one hundredth of a percent.
Equivalent Interest Rate
A rate that provides the same accumulated interest as would be obtained from several other interest rates over a given time period.
Nearest 0.01%
Adjusting a value so that it is close to an exact hundredth of a percent, enhancing precision.
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