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1. Which one of the following qualifies as an annuity payment?

Weekly grocery bill

Car repairs

Clothing purchases

Auto loan payment

Medical bills

2. Anna pays .85 percent interest monthly on her credit card account. When the interest rate on that debt is expressed as if it were compounded annually, the rate would be referred to as the:

simplified rate.

annual percentage rate.

stated rate.

effective annual rate.

quoted rate.

Financial Management, Finance

  • Category:- Financial Management
  • Reference No.:- M92313123

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