You are considering the following loans. Assuming all else being equal, from which bank should you borrow? (Hint: Pick the one with the lowest effective annual interest rate.) Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer.

a Bank A: annual interest rate of 12.8% compounded ANNUALLY. b Bank B: annual interest rate of 12.6% compounded ANNUALLY. c Bank C: annual interest rate of 12.4% compounded SEMI-ANNUALLY. d Bank D: annual interest rate of 12.2% compounded QUARTERLY. e Bank E: annual interest rate of 12.0% compounded MONTHLY.