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Posted on Aug 02, 2024

Suppose that you are in need of a business loan. First national bank charges 8 . 8 percent compounded monthly on its business loans whule

Suppose that you are in need of a business loan. First national bank charges

8.8

percent compounded monthly on its business loans whule second united bank charges

10.1

percent compounded semiannually as a potential borrower to which bank would you go for a new loan. How would your answer change, if any if second united bank lowered their rate to

9 %

compounded quartely

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