Bank A offers you a loan at

6.61%

compounded 4 times a year. Bank B offers to loan you the same amount at

0.10%

less than the rate offered by Bank A but compounded twice as often as the Bank A rate is. Which bank's loan should you accept? As your answer, enter the effective rate (in percent, to two decimal places at least) offered by the bank whd fe loan you should accept.

Bank A offers you a loan at 6.61% compounded 4 times a year. Bank B offers to loan you the same amount at 0.10% less than the rate offered by Bank A but compounded twice as often as the Bank A rate is. Which bank's loan should you accept? As your answer, enter the effective rate (in percent, to two decimal places at least) offered by the bank whdse loan you should accept. Bank A offers you a loan at 6.61% compounded 4 times a year. Bank B offers to loan you the same amount at 0.10% less than the rate offered by Bank A but compounded twice as often as the Bank A rate is. Which bank's loan should you accept? As your answer, enter the effective rate (in percent, to two decimal places at least) offered by the bank whdse loan you should accept