Bank A charges 11.5% compounded monthly on its business loan. Bank B charges 11.2% compounded daily. If

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Bank A charges 11.5% compounded monthly on its business loan. Bank B charges 11.2% compounded daily. If you want to borrow money, which bank would you choose?

(a) Monthly
(b) Quarterly
(c) Semiannually
(d) Annually

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Fundamentals of Engineering Economics

ISBN: 978-0132775427

3rd edition

Authors: Chan S. Park

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Question Posted: Nov 12, 2018 10:36 AM

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Bank A charges 11.5% compounded monthly on its business loan. Bank B charges 11.2% compounded daily. If

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Fundamentals of Engineering Economics

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