Business, 29.12.2021 19:40 daelinrobinson

Mike is looking for a loan. He is willing to pay no more than an effective rate of 8. 000% annually. Which, if any, of the following loans meet Mikeâ€™s criteria? Loan X: 7. 815% nominal rate, compounded semiannually Loan Y: 7. 724% nominal rate, compounded monthly Loan Z: 7. 698% nominal rate, compounded weekly a. Y only b. X and Z c. Y and Z d. None of these meet Mikeâ€™s criteria.

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Mike is looking for a loan. He is willing to pay no more than an effective rate of 8. 000% annually....

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