Suppose you want to start a new business and need to apply for business loans. There are two major banks in town, and they provide you with the following offers: The first bank charges 12 percent compounded monthly on the loans. The second bank charges 12.2 percent compounded semiannually. As a potential borrower, to which bank would you go for a business loan

Question

16-11-2021
Business

contestada

Suppose you want to start a new business and need to apply for business loans. There are two major banks in town, and they provide you with the following offers: The first bank charges 12 percent compounded monthly on the loans. The second bank charges 12.2 percent compounded semiannually. As a potential borrower, to which bank would you go for a business loan

Respuesta :

Otras preguntas

Choose all features common to most next generation sequencing technologies. Millions of sequencing reactions are performed simultaneously Conventional cloning i

14. (05.07 LC) In this segment, you learned that writers change elements of a play (setting, characters, theme, dialogue) when creating modern adaptations. Choo

two dominant organisms of the rocky shore found high on the rocks of the intertidal zone are:

if an organization sets prices to recover research and development expenses and establish a premium quality image for its product, it would be using a ____ pric

an alkene having the molecular formula c6h10 is treated sequentially with ozone (o3) and zinc/acetic acid to give the product/s shown

suppose we have a card with apr of 30% the mininum payment is 8% of the balance suppose we have a balance of 400 on the credit card we decide to stop charging a

when a group of workers finds that their job skills and work experience have become obsolete and are not needed by industry, this type of unemployment is:

Read the following fable by Aesop and identify the theme. The Crow and the Pitcher by Aesop In a spell of dry weather, when the Birds could find very little to

Which of the following is likely to describe the state of the world's superpowers in the future? A- There will be two world superpowers, and all the world's sta

Find the area of the figure. A composite figure made of a triangle, a square, and a semicircle. The diameter and base measure of the circle and triangle respect

francocanacari francocanacari · Answer 1 · 2021-11-19T02:36:38+01:00

According to the calculations made, I would go to the Second Bank.

Supposing you want to start a new business and need to apply for business loans, and there are two major banks in town, and they provide you with the following offers: The first bank charges 12 percent compounded monthly on the loans, and the second bank charges 12.2 percent compounded semiannually, to determine, as a potential borrower, to which bank would you go for a business loan, the following calculation must be performed:

100 x (1 + 0.12 / 12) ^ 1x12
100 x (1.01) ^ 12
100 x 1.1268
112.68

100 x (1 + 0.122 / 2) ^ 1x2
100 x 1,061 ^ 2
100 x 1.1257
112.57

Therefore, I would go to the Second Bank.

Learn more in https://brainly.com/question/22621039