Question: Which loan is the cheapest for the borrower? A. A loan with an EAR of 24% with annual payments B. A loan with an EAR

Which loan is the cheapest for the borrower?

A. A loan with an EAR of 24% with annual payments

B. A loan with an EAR of 24.1% with monthly payments

C. A loan with an EAR of 24.2% and daily payments

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