Last national bank is offering you a loan at 10 payments on


Last national bank is offering you a loan at 10%; payments on the loan are to be made monthly. Credit Onion is offering you a loan where payments are to be made semi-annually; the rate on the loan is also 10%. A local bank down the street is also offering a loan at10 % where payments are made quarterly. which loan has the lowest annual cost?

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Financial Management: Last national bank is offering you a loan at 10 payments on
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