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Question 4 Part 1 of 2 Compare the annual percentage yield ( APY ) of loan A , with nominal interest rate 1 2 %

Question

4

Part

1

2

Compare the annual percentage yield

(

APY

)

of loan A

,

with nominal interest rate

12 %

and quarterly compounding to loan B

,

which has nominal interest rate

9 %

and semiannual compounding. Round answers to one decimal place.

APY Loan A:

APY Loan B:

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