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39 votes
39 votes
Andrew is choosing between four loans. Loan P has a nominal rate of 10. 393%, compounded daily. Loan Q has a nominal rate of 10. 516%, compounded weekly. Loan R has a nominal rate of 10. 676%, compounded monthly. Loan S has a nominal rate of 10. 755%, compounded annually. Which loan will give Andrew the best effective interest rate? a. Loan P b. Loan Q c. Loan R d. Loan S Please select the best answer from the choices provided A B C D.

User Helgetan
by
2.3k points

1 Answer

21 votes
21 votes

Answer:

It is D

Explanation:

User Lawzlo
by
2.7k points
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