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You are going to borrow $10,000. You approach 4 banks. Bank A indicates that they will charge 14.5% compounded annually. Bank B indicates that they
You are going to borrow $10,000. You approach 4 banks. Bank A indicates that they will charge 14.5% compounded annually. Bank B indicates that they will charge 13.9% compounded semi-annually. Bank C indicates that they will charge 13.65% compounded quarterly and Bank D indicates that they will charge 13.60% compounded monthly. From which bank should you borrow the money?
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Engineering Mechanics Statics & Dynamics
Authors: Russell C. Hibbeler
15th Edition
0134895150, 9780134895154
