Partners bank offers to lend you $50,000 at a nominal rate of 5.0%, simple interest, with interest paid quarterly. an offer to lend you the $50,000 also comes from community bank, but it will charge 6.0%, simple interest, with interest paid at the end of the year. what's the difference in the effective annual rates charged by the two banks?

enlightenment impacted society by introducing the idea that mankind could use reason to discover the laws of the world and the rights of mankind. these ideals affected all factions of society, from politics to religion.

the answer would be voluntary exchange -

"the act of buyers and sellers freely and willingly engaging in market transactions. moreover, transactions are made in such a way that both the buyer and the seller are better off after the exchange than before it occurred."

hope this : )

-shy