What is the relationship between an annually compounded rate andthe annual percentage rate (APR) which is calculated fortruth in lending laws for a loan requiring monthly payments Multiple Choice The APR is lower than the annually compounded rate The APR is higher than the annually compounded rate The APR equals the annually compounded rate The answer depends on the interest rate

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Question: What is the relationship between an annually compounded rate andthe annual percentage rate (APR) which is calculated fortruth-in-lending laws for a loan requiring monthly payments?

What is the relationship between an annually compounded rate andthe annual percentage rate (APR) which is calculated fortruth-in-lending laws for a loan requiring monthly payments?

Multiple Choice

The APR is lower than the annually compounded rate.
The APR is higher than the annually compounded rate.
The APR equals the annually compounded rate.
The answer depends on the interest rate.

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