Question

Bank A is now lending money at 13.2 % interest compounded annually. The rate at Bank B is 12.6% compounded monthly and the rate at Bank C is 12.7% compounded quarterly. If you need to borrow money, at which bank will you pay the least interest​
Mark brainliset

Answer 1

Answer:

Bank A

In Bank A, we have to pay the least interest as it is 13.2% annually.

In Bank B, it is 12.6% interest monthly, which can be more than 145% annually.

In Bank C, it is 12.7% quarterly. Which is also more than 100% annually.