Mathematics, 09.01.2021 09:30 kaffolter25

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? Loan A: 9.265% nominal rate, compounded weekly
Loan B: 9.442% nominal rate, compounded monthly
Loan C: 9.719% nominal rate, compounded quarterly
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...