Which of the below statements is TRUE?
To evaluate a special financing deal, you do not need the interest rate at which you can borrow money for any comparable use.
Computing present and/or future values of single cash flows between partial time periods is difficult, because a fractional exponent cannot be used directly in modern calculators.
When m, the compounding frequency, becomes small enough, compounding becomes essentially continuous.
Another way to understand an APY is to say that it's the total interest earned in a year (annual interest) divided by the principal.
