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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 10.2 percent.
Bank B charges an APR of 10.0 percent annually.
Bank C charged an APR of 9.9 percent, compounded semi-annually.
Bank D charged an APR of 9.9 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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