$1,250 Question 10: (1 Point) Paula is reading the fine print on the various loans as she wants to know which bank has the highest effective interest rate. Below are the posted rates (or nominal interest rates) (Keep to 2 decimal places) The Scotia Bank's posted interest rate of 6.60% (with the fine print reading compounding semi-annually 2 times a year) CIBC's posted interest rate of 6.55% (with the fine print reading compounding weekly at 52 weeks). The Bank of Montreal's posted interest rate of 6.50% (with the fine print reading compounding daily at 365 days). The Royal Bank of Canada's posted interest rate of 6.58% (with the fine print reading compounding monthly at 12 months). Scotia Bank's effective rate is higher All four effective rates are equivalent The Royal Bank of Canada's effective rate is higher Bank of Montreal's effective rate is higher. CIBC's effective rate is higher. estion 47: Point) Rob's student loan balance was $8,000 at the beginning of the year. Total loan payments in 2019 were $3,280, of which $2,520 represented the repayment of the principal on the loan. How much can Rob claim as a 15% non-refundable tax credit with respect to this student loan on his 2019 Federal personal income tax return? $150 $378 $198 $250 $114