Define each of the following loan terms and explain how


Define each of the following loan terms, and explain how they are related to one another: the prime rate, the rate on commercial paper, the simple interest rate on a bank loan calling for interest to be paid monthly, and the rate on an installment loan based on add-on interest. If the stated rate on each of these loans was 6%, would they all have equal, effective annual rates? Explain.

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Finance Basics: Define each of the following loan terms and explain how
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