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Bank A charges 10.54 percent compounded monthly on its business loans. Bank B charges 10.74 percent compounded semiannually. Bank C charges 10.62 percent compounded quarterly.

Bank A charges 10.54 percent compounded monthly on its business loans. Bank B charges 10.74 percent compounded semiannually. Bank C charges 10.62 percent compounded quarterly. Lastly, Bank D charges 10.84% compounded daily. As a potential borrower, which bank would you go to for a new loan?

Select one:

a. Bank D

b. Bank A

c. Bank B

d. Bank C

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