Which of the following statements is FALSE?
A) The effective annual rate (APR) of a loan is always the same as the quoted rate.
B) The payments of an ordinary annuity are made or received at the end of each period.
C) The effective annual rate (APR) of a loan is always equal to or greater than the quoted rate.
D) A perpetuity is a series of equal payments,which are made for an infinite period of time.
Correct Answer:
Verified
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A)Quarterly
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