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Why loan is the better offer because

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Question 1: 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 7.45 percent compounded daily. Loan B offers a rate of 7.5 percent compounded semi-annually. Loan _____ is the better offer because______:

A. A; you will pay less interest.
B. A; the annual percentage rate is 7.45 percent.
C. B; the annual percentage rate is 7.64 percent.
D. B; the interest is compounded less frequently.
E. B; the effective annual rate is 7.64 percent.

Reference no: EM132899692

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