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The rate of interest agreed upon contractually charged by a lender or promised by a borrower is the​ ________ interest rate. A. effective B. continuous C. discounted D. nominal

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Answer: The correct answer is d) NOMINAL

Explanation: Nominal interest rate is the interest rate before inflation is taken into account. Nominal interest rate can also be used to the advertised or stated interest rate on a loan, without taking into account any fees or compounding of interest.

It is the contractual interest rate charged by a lender or promised by the borrower.

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