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question 10 Which loan will result in the highest effective interest rate paid by the borrower? 8%, 8-year loan compounded monthly 8%,8-year loan compounded annually

question 10

Which loan will result in the highest effective interest rate paid by the borrower? 8\%, 8-year loan compounded monthly 8%,8-year loan compounded annually 8\%, 8-year loan compounded semi-annually 8\%, 8-year loan compounded dally

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