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What is difference between the annual percentage rate and the quoted rate?In: Mortgages |
The quoted reate is based on continuos compound interest.
exp
If quoted rate is 6%, then the annual rare is ....e^(0.06) = 1.06183 - 1 =
= 6.183%
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First answer by ID2300365359. Last edit by ID2300365359. Question popularity: 1 [recommend question]
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