Question: You are considering between two loans. Assume everything between these two loans is the same except for the interest rate. Loan A offers 5.5% compounded

You are considering between two loans. Assume everything between these two

You are considering between two loans. Assume everything between these two loans is the same except for the interest rate. Loan A offers 5.5% compounded weekly. Loan B offers 5.64% compounded semiannually. Which loan is better and why? Loan A because the actual rate is 5.65% is lower than Loan B's actual rate. Loan A because 5.5% is lower than Loan B's 5.64%. Loan B because the actual rate is 5.72% is higher than Loan A's actual rate. Loan B because 5.64% is higher than Loan A's 5.5%. None of the above

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