Compound interest with nonannual periods

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(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 9 percent compounded quarterly or from a bank at an APR of 10 percent compounded weekly. Which alternative is more? attractive?

a. If you borrow ?$100 from a finance company at an APR of 99 percent compounded quarterly for 1 year, how much do you need to payoff the? loan?

Reference no: EM131861337

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