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Suppose you need to borrow money. Bank X charges 10.000% (APR) compounded monthly on its loans; Bank Y charges 10.050% (APR) compounded semiannually; Bank Z

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Suppose you need to borrow money. Bank X charges 10.000% (APR) compounded monthly on its loans; Bank Y charges 10.050% (APR) compounded semiannually; Bank Z charges 10.350% (APR) compounded annually. Which bank is best for you? Bank Z Not enough information to answer Bank X Bank Y

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