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You want to borrow $20,000 from a bank to buy a car. Which of the following do you accept? a. Bank A offers a rate

You want to borrow $20,000 from a bank to buy a car. Which of the following do you accept?

a. Bank A offers a rate of J2 = 10%.

b. Bank B offers a rate of J12 = 9.85%.

c. Bank C offers a rate of an EAR = 10.22%.

d. Bank D offers a rate of 10.4% p.a. compounded once every two years

(i've been learning it with a shortcut Formula) Jn - general case - so J2 = annual

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