Question: QUESTION 18 1. Mark is looking to secure a small business loan. The first lender is offering 11% compounded weekly, whereas the second lender is

QUESTION 18 1. Mark is looking to secure a small business

QUESTION 18 1. Mark is looking to secure a small business loan. The first lender is offering 11% compounded weekly, whereas the second lender is offering 11.25% compounded semi-annually and the third lender is offering 11.6% compounded annually. Mark chose the loan that offers the lower effective rate. What is the effective rate of the loan that he chose? 0.75 points

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