Everything Else Remaining the Same,under What Situation Will APR and EAR

question 16

Essay

Everything else remaining the same,under what situation will APR and EAR be equal?

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Definitions:

Credited

To add a sum of money to an account, or to acknowledge someone's contribution to something.

Payment

The transfer of money from one party to another in exchange for goods, services, or to fulfill a legal obligation.

Account

A record or statement of financial expenditure and receipts relating to a particular period or purpose.

Terms

The components of an algebraic expression that are separated by addition or subtraction signs.