What is the purpose of the periodic interest rate? (2 points) a for borrowers to compare the rates between different loans b for lenders to compare the interest rates between different investments c to

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asked Apr 15, 2021 78.5k views

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What is the purpose of the periodic interest rate? (2 points)

a for borrowers to compare the rates between different loans
b for lenders to compare the interest rates between different investments
c to determine the amount of interest charged during a specific time frame
d to determine the minimum payment of a credit card