Author Question: Last National Bank is offering you a loan at 10; payments on the loan are to be made monthly. ... (Read 165 times)

Pineapplelove6

  • Hero Member
  • *****
  • Posts: 560
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.


Hikerman221

  • Sr. Member
  • ****
  • Posts: 346
Answer to Question 1

B

Answer to Question 2

D



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

Did you know?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

Did you know?

Asthma cases in Americans are about 75% higher today than they were in 1980.

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

For a complete list of videos, visit our video library