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.

Option C is the answer.            

Step-by-step explanation:            

Loan A: 9.265% nominal rate, compounded weekly            

Loan B: 9.442% nominal rate, compounded monthly              

Both these loans are effective for Melanie. Loan C is not effective as it will be more than Melanie's requirement.                                                        

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step-by-step explanation:

over the argument its not good to fight.