Question

(Calculating an EAR​) After examining the various personal loan rates available to​ you, you find that...

(Calculating an EAR​)

After examining the various personal loan rates available to​ you, you find that you can borrow funds from a finance company at 11 percent compounded quarterly or from a bank at 12 percent compounded semiannually.

Which alternative is more​ attractive?

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