Question
You approach two different banks for a loan of $100,000 to finance the purchase of this equipment. Farm Credit charges 12% APR compounded monthly. CoBank
You approach two different banks for a loan of $100,000 to finance the purchase of this equipment. Farm Credit charges 12% APR compounded monthly. CoBank charges 11.95% APR compounded daily. Which bank should you use for the loan? Justify your choice mathematically and briefly explain.
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Quantum Economics And Finance
Authors: David Orrell
3rd Edition
1916081630, 978-1916081635
