A is lending money at 6.4% interest compounded annually. The rate at Bank B is 6.3% compounded

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A is lending money at 6.4% interest compounded annually. The rate at Bank B is 6.3% compounded monthly, and the rate at Bank C is 6.35% compounded quarterly. At which bank will we pay the least interest?

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College Algebra

ISBN: 978-0134697024

12th edition

Authors: Margaret L. Lial, John Hornsby, David I. Schneider, Callie Daniels

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Question Posted: Mar 09, 2019 07:04 AM

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A is lending money at 6.4% interest compounded annually. The rate at Bank B is 6.3% compounded

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For each bank we need to calculate 1 rn n The base 1 rn ...View the full answer

College Algebra

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