Given the following information:

Item		Bank A	Bank B
Loan Amount	(1)	$784.40	$784.40
Contractual Rate	(2)	20.55%	22.29%
Conversion Periods	(3)	4	12
Life of Loan (years)	(4)	6	6
Method of Payment	(5)	Fully Amort.	Fully Amort.
Fee	(6)	No	No
Stock Requirement	(7)	No	No

(i) Calculate the APR at Bank A. a. 2.89% b. 3.11% c. 17.63% d. 20.55%

(ii) Calculate the effective rate at Bank A. a. 2.92% b. 3.55% c. 18.83% d. 22.19%

(iii) Calculate the APR at Bank B. a. 2.89% b. 22.29% c. 17.63% d. 1.05%

(iv) Calculate the effective rate at Bank B. a. 2.76% b. 1.10% c. 19.13% d. 24.71%

(v) Which bank offer the least cost loan? a. A b. B