You have a choice of borrowing money from a finance company, Business Economics

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You have a choice of borrowing money from a finance company

You have a choice of borrowing money from a finance company at 24 percent compounded quarterly or borrowing money from a bank at 26 percent compounded annually. Which alternative is the most attractive?

If you can borrow funds from a finance company at 24% compounded quarterly, the EAR for the loan is what %.

If you can borrow funds from a bank at 26% compounded annually, the EAR for the loan is what %?

What is the better option?

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Business Economics: You have a choice of borrowing money from a finance company

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Business Economics: You have a choice of borrowing money from a finance company

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