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Bank A charges 10.07 percent compounded monthly on its business loans. Bank B charges 10.47 percent compounded semiannually. Bank C charges 10.22 percent compounded quarterly.

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Bank A charges 10.07 percent compounded monthly on its business loans. Bank B charges 10.47 percent compounded semiannually. Bank C charges 10.22 percent compounded quarterly. Lastly, Bank D charges 10.29% compounded daily. As a potential borrower, which bank would you go to for a new loan? Select one: a.Bank D b.Bank B c.Bank C d.Bank A N

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