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Author Question: Last National Bank is offering you a loan at 10; payments on the loan are to be made monthly. ... (Read 172 times)

Pineapplelove6

  • Hero Member
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  • Posts: 560
on: Jul 11, 2018
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 semiannually; the rate on the
  loan is also 10.
 
  Local Bank down the street is also offering a loan at 10 where the payments are
  made quarterly. Which loan has the lowest annual cost?
  A) Local Bank's loan
  B) Credit Onion's loan
  C) Last National Bank's loan
  D) All of the loans will have the same annual cost.

Question 2

The beneficiaries named on an insurance policy are those who
 
  A)
 
  own the policy.
  B)
 
  buy the policy.
  C)
 
  issue the policy.
  D)
 
  are protected by the policy.
Foundations of Finance ¦ Keown, Petty, Martin ¦ 9th Edition
Buy Test-Bank


Hikerman221

  • Sr. Member
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  • Posts: 346
Reply #1 on: Jul 11, 2018
Answer to Question 1

B

Answer to Question 2

D


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