Craig is considering four loans. Loan L has a nominal rate of 8. 254%, compounded daily. Loan M has a nominal rate of 8. 474%, compounded weekly. Loan N has a nominal rate of 8. 533%, compounded monthly. Loan O has a nominal rate of 8. 604%, compounded yearly. Which of these loans will offer Craig the best effective interest rate? a. Loan L b. Loan M c. Loan N d. Loan O Please select the best answer from the choices provided A B C D.

Fixed rate mortgage offer: purchase price: $170,000 down payment ($34k): 20% term: 30 years interest rate: 4.25% property tax (yearly): $1,500 homeowner’s insurance (yearly): $1,000 use this example from a fixed-rate mortgage calculator to you answer the questions. keep the page open after you complete this question. according to the calculator, the monthly payment demarco and tanya should anticipate paying for principal and interest is $208. $877. $669. $1,200.