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Which loan would recommend to friend and why

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Problem 1: Your friend is planning to borrow $10,000 from a bank to purchase a used motorcycle. She is considering 3 different loans, each with different interest rates but with the same term. The loan from Bank A has an annual interest rate of 7.99% compounded quarterly. The loan from Bank B has an annual interest rate of 6.99% compounded monthly. And the loan from Bank C has an annual interest rate of 7.5% compounded semiannually. Which loan would you recommend to your friend and why?

Reference no: EM132736341

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