Business, 18.03.2020 21:07 dennismathews01
You are considering two loans. The terms of the two loans are equivalent with the exception of the interest rates. Loan A offers a rate of 7.75 percent, compounded daily. Loan B offers a rate of 8 percent, compounded semi-annually. Which loan should you select and why?a. the annual percentage rate is 7.68 percent. b. the annual percentage rate is 7.15 percent. c the effective annual rate is 8.16 percent. d. the effective annual rate is 8.06 percent.
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