Effective Interest Rate is: Select one: the equivalent compounded rate of interest. the rate that produces the highest possible future value, all other things being equal. the monthly compounded rate that produces the same future value as the nominal rate. the annually compounded rate that produces the same future value as the nominal rate. When determining the term of an investment using the exact number of days in the term, financial institutions. Select one: count the ending date but not the starting date divide the number of years by 12 always express the term in number of whole months count the starting date but not the ending date