help with question please

User Generated

ZfCbbu

Business Finance

Question Description

 the effective APR may be different that the stated APR because

compounding occurs more often than once a year.

extra fees are added to most loans.

banks are allowed to hide the real cost of borrowing.

 the APR assumes semiannual compounding.

Student has agreed that all tutoring, explanations, and answers provided by the tutor will be used to help in the learning process and in accordance with Studypool's honor code & terms of service.

Explanation & Answer

 the APR assumes semiannual compounding.

HF_Ceb_Jevgre (493)
Duke University

Anonymous
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