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Answer all parts with full steps and as per the method mentioned to get 100% feedback!! NO EXCEL, USE ONLY HANDWRITTEN FORMULAS. Determine the effective

Answer all parts with full steps and as per the method mentioned to get 100% feedback!! NO EXCEL, USE ONLY HANDWRITTEN FORMULAS.

Determine the effective annual interest rate in each of the following cases for a loan offered in purchasing an equipment. Which effective annual interest rate is a better choice.

A) 1.25% interest compounded monthly

B) 3% interest compounded quarterly

C) 4.5% interest compounded semi annually

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