RENELYNVILLALVA224GO
Answered

How would you compare the stated to effective rate?​

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RIASIBAYAN14GO

Answer:

Stated interest is the specified rate on your savings account or loan. Effective interest is the true rate you earn or pay. There is a difference because a stated interest rate does not take into account the effect of "compounding," which increases the rate you earn or pay.

WOSNKWIIGO

Answer:

The rate of interest on your savings account or loan is called stated interest. The genuine rate of interest you earn or pay is called effective interest. Because a stated interest rate does not account for the effect of "compounding," which increases the rate you earn or pay, there is a discrepancy.

εïз - i hope it helps! ^^

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