Question

What is the annual interest rate? Any capital will double in 6 years​

Answer 1

Answer:

Hii,

Explanation:

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The term annual percentage rate of charge, corresponding sometimes to a nominal APR and sometimes to an effective APR, is the interest rate for a whole year, rather than just a monthly fee/rate, as applied on a loan, mortgage loan, credit card, etc. It is a finance charge expressed as an annual rate.

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