Question: Identify a true statement about the effective annual rate. An effective annual rate is always the stated rate on a loan. An effective annunt rate

Identify a true statement about the effective annual rate.
An effective annual rate is always the stated rate on a loan.
An effective annunt rate the the fale per period times the number of periods per year.
An effective annual rate is higher than annual percentage rate if compounding of interest
An effective annual rate is the rate which excludes any interest rate compounding.
Identify a true statement about the effective

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