Mathematics, 03.10.2019 11:30 dontcareanyonemo
Melanie is looking for a loan. she is willing to pay no more than an effective rate of 9.955% annually. which, if any, of the following loans meet melanie’s criteria?
options:
loan a: 9.265% nominal rate, compounded weekly
loan b: 9.442% nominal rate, compounded monthly
loan c: 9.719% nominal rate, compounded quarterly
answers:
a. b only
b. a and c
c. a and b
d. none of these fit melanie’s criteria.
Answers: 2
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Melanie is looking for a loan. she is willing to pay no more than an effective rate of 9.955% annual...
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