You have a choice of borrowing money from a finance company at 13 percent compounded monthly or borrowing money from a bank at 14 percent compounded weekly. Which alternative is the most attractive?
If you can borrow funds from a finance company at 13 compounded monthly, the EAR for the loan is what %.
If you can borrow funds from a bank at 14% compounded weekly, the EAR for the loan is what %?

Answer rating: 100% (QA)

1st option 13 compounded monthly A P1rnnt Let the amount a... View the full answer