Question: select all that apply Incorrect Question 3 0/1 pts Effective interest rates are: calculated using the EAR (Effective Annual Interest Rate) formula. may be increased

select all that apply select all that apply Incorrect Question 3 0/1 pts Effective interest

be increased or decreased by discount points, depending upon whether the points

Incorrect Question 3 0/1 pts Effective interest rates are: calculated using the EAR (Effective Annual Interest Rate) formula. may be increased or decreased by discount points, depending upon whether the points are currently deductible for income tax purposes. increased by the charging of discount points. unaffected by the charging of discount points. Question 4 1/1 pts Partial 0.67/1 pts Question 5 The contract interest rate: equal to the effective annual rate on the loan for monthly payment loans. is the effective rate when there are no front-end fees and no prepayment fees. is the rate of interest stipulated in the promissory note. is the nominal rate. Incorrect 0/2 pts Question 6 Suppose that you have a loan with a contract rate (APR) of 12.13%. The payments on the loan are monthly. The Effective Annual Rate of interest on the loan is _ __%. Round to two decimal places. 1.01

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