#finance #steiner-mastering-financial-calculations-3ed
The effect of compounding increases with the frequency of interest pay ments, because there is an increasing opportunity to earn interest on interest. As a result, an annual rate will always be greater than the semi annual equivalent, which in turn will always be greater than the monthly equivalent, etc.
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piotr.wasik - (no access) - Mastering Financial Calculations 3ed (Steiner), p8
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