Question: Differences between the actuarial rate and annual rate occur when: a . Each conversion period is one year in length. b . The interest rate

Differences between the actuarial rate and annual rate occur when:
a.
Each conversion period is one year in length.
b.
The interest rate is stated on the note.
c.
There are uncertainties about future credit availability.
d.
Each conversion period is not one year in length.

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