Question: Sam has a choice between two bank loans. Loan A has an annual percentage rate of 7.55 percent but with interest compounded monthly. Loan B

  • Sam has a choice between two bank loans. Loan A has an annual percentage rate of 7.55 percent but with interest compounded monthly. Loan B has an annual percentage rate of 7.45 percent with interest compounded daily. Which loan should Sam select?

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