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

Name: Only the 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 APR or quoted rate is not the only factor; the effective interest rate, which accounts for compounding, should be used for accurate present or future value calculations.

Only the APR or Some Other Quoted Rate Should Be