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Author Question: Merchants Bank offers to lend you $50,000 at a nominal rate of5.8%, simple interest, with interest ... (Read 28 times)

trevg

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on: Aug 7, 2023
Merchants Bank offers to lend you $50,000 at a nominal rate of5.8%, simple interest, with interest paid quarterly. Gold Coast Bank offers to lend you the $50,000, but it will charge6.5%, simple interest, with interest paid at the end of the year. What’s the difference in the effective annual rates charged by the two banks?

◦

0.48%


◦

0.57%


◦

0.62%


◦

0.79%

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Marked as best answer by trevg on Aug 7, 2023

fdsajkl

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Reply #1 on: Aug 7, 2023
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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trevg

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Reply 2 on: Aug 7, 2023
Thanks for the timely response, appreciate it

ultraflyy23

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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