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Bank A $860.74 Bank B $860.74 (2) 15.74% 17.40% Item Loan Amount Contractual Rate Conversion Periods Life of Loan (years) Method of Payment el 14 Fully Amort. Fully Amort. No Fee (6) No Stock Requirement No No 0 Calculate the APR at Bank A. a. 2.73% 15.74% c. 14.07% 2.56% Enter Response Here: (1) Calculate the effective rate at Bank A. a. 3.11% 16.69% c. 2.59% d. 14.83% Enter Response Here: (iii) Calculate the APR at Bank B. a. 11.87% b. 2.56% c. 17.40% d. 14.07% Enter Response Here: (iv) Calculate the effective rate at Bank B. a. 17.40% 14.07% c. 18.33% d. 2.42% Enter Response Here: (V) Which bank offer the least cost loan? . b. Enter Response Here: Bank A $860.74 Bank B $860.74 (2) 15.74% 17.40% Item Loan Amount Contractual Rate Conversion Periods Life of Loan (years) Method of Payment el 14 Fully Amort. Fully Amort. No Fee (6) No Stock Requirement No No 0 Calculate the APR at Bank A. a. 2.73% 15.74% c. 14.07% 2.56% Enter Response Here: (1) Calculate the effective rate at Bank A. a. 3.11% 16.69% c. 2.59% d. 14.83% Enter Response Here: (iii) Calculate the APR at Bank B. a. 11.87% b. 2.56% c. 17.40% d. 14.07% Enter Response Here: (iv) Calculate the effective rate at Bank B. a. 17.40% 14.07% c. 18.33% d. 2.42% Enter Response Here: (V) Which bank offer the least cost loan? . b. Enter Response Here

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