Only the annual percentage rate (APR) or some other quoted rate should be used as the interest rate factor for present or future value calculations.

Name: Only the annual percentage rate (APR) or some other quoted rate should be used as the interest rate factor for present or future value calculations.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The nominal interest rate, effective interest rate, or any other rate that accurately reflects the compounding period should be used for present or future value calculations, not just the APR.

Only the Annual Percentage Rate (APR) or Some Other Quoted