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QUESTION 9 3 If a credit card company charges you 3% to the unpaid balance of your account each month, then what is the effective annual interest rate? 0.25% 3% 36% 42.6% QUESTION 10 3 Suppose that you have two options to loan money from a bank. Alternative A - You loan $10,000 from a bank today. You have to pay back the loan two years later with an interest of 1% compounded monthly. Alternative B - You loan $10,000 from a bank today. You have to pay back the loan two years later with an interest of 12% compounded annually. Which of the following would a rational decision-maker conclude? Alternative A is an economically preferred option. Alternative B is an economically preferred option. Alternative A and B are equivalent. Thus, it does not matter which option to choose. Comparing two alternatives is not possible because cash flows in the alternatives occur at different points in time