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You request a personal loan form 4 different banks. Bank A demands 8% interest compound annually. Bank B demands 8% interest compounded semi-annually. Bank C
You request a personal loan form 4 different banks. Bank A demands 8% interest compound annually. Bank B demands 8% interest compounded semi-annually. Bank C demands 8% compounded quarterly. Bank D demands 8% compounded monthly. Which bank would be most rational to borrow from?
A) Bank A
B) Bank B
C) Bank C
D) Bank D
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