If Interest Is Compounded Daily, Then

question 63

Multiple Choice

If interest is compounded daily, then

• A)the annual percentage rate (APR)is greater than the effective annual rate (AER).
• B)the investor will earn less interest than if interest were compounded monthly instead.
• C)the annual percentage rate (APR)is lower than the effective annual rate (AER).
• D)the annual percentage rate (APR)is equal to the effective annual rate (AER).

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