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Melanie is looking for a loan. she is willing to pay no more than an effective rate of 9.955% annually. which, if any, of the following loans meet melanie’s criteria?

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Below are the options:

Loan A: 9.265% nominal rate, compounded weekly
Loan B: 9.442% nominal rate, compounded monthly
Loan C: 9.719% nominal rate, compounded quarterly
Answers:
a. B only

b. A and C 

c. A and B

d. None of these fit Melanie’s criteria.

The answer is A. 
angeliquelopez2

Answer:

C: A and B

Step-by-step explanation:

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