Question: Three different interest charging plans. Payments are made on a loan every 6 months. Three interest plans are presented: 1 . 9 % per year

Three different interest charging plans. Payments are made
on a loan every 6 months. Three interest plans are presented:
1.9% per year compounded quarterly.
2.3% per quarter compounded quarterly.
3.8.8% per year compounded monthly.
Which Plan has the lowest annual interest rate?

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