Compound interest with nonannual periods after examining, Dissertation

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Compound interest with nonannual periods after examining

Question: (Compound interest with nonannual periods) After examining the various personal loan rates available to you, you find that you can borrow funds from a finance company at an APR of 12 percent compounded monthly or from a bank at an APR of 13 percent compounded annually. Which alternative is more attractive?

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Dissertation: Compound interest with nonannual periods after examining

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