Question: Write 800 words/ Don't copy and paste from the internet Cite your resources What effect does compounding interest more frequently than annually have on its

Write 800 words/ Don't copy and paste from the internet Cite your resources

What effect does compounding interest more frequently than annually have on its future value and the effective annual rate (EAR)? Explain. How would you explain the difference between the annual percentage rate (APR) and the effective annual rate (EAR) to a friend with no background in finance?

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