You are considering two loans the terms of the two loans, Financial Management

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You are considering two loans the terms of the two loans

You are considering two loans. The terms of the two loans are equivalent with the exception of the interest rates. Loan A offers a rate of 7.75 percent, compounded daily. Loan B offers a rate of 8 percent, compounded semi-annually. What loan should you select and why?

A) A; the effective annual rate is 8.06 percent.

B) A; the annual percentage rate is 7.75 percent.

C) B; the annual percentage rate is 7.68 percent.

D) B; the effective annual rate is 8.16 percent

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