Business, 21.11.2019 20:31 jadak2020

Which of the following one-year, $ 1 comma 000 bank loans offers the lowest effective annual rate? a. a loan with an apr of 6.0 %, compounded monthly. b. a loan with an apr of 6.0 %, compounded annually, with a compensating balance requirement of 10.0 % (on which no interest is paid). c. a loan with an apr of 6.0 %, compounded annually, with a 1.00 % loan origination fee.

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Which of the following one-year, $ 1 comma 000 bank loans offers the lowest effective annual rate?...

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