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You are considering taking out a loan from one of the following banks. Bank A charges an EAR of 1 0 . 2 percent. Bank
You are considering taking out a loan from one of the following banks.
Bank A charges an EAR of percent.
Bank B charges an APR of percent annually.
Bank C charged an APR of percent, compounded semiannually.
Bank D charged an APR of percent, compounded quarterly.
Which bank should you choose for your loan?
A Bank A
B Bank B
C Bank C
D Bank D
E Not enough information to compare the banks' rates.
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