In Most Cases It Will Save Money for Consumers to Select

question 62

Multiple Choice

In most cases it will save money for consumers to select their loans based on the lowest:

• A)Annual percentage rate
• B)Effective annual rate
• C)Number of compounding periods per year
• D)Simple interest rate

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Definitions:

Iroquois

A confederation of six Native American tribes in the Northeast United States, known for their influential political system and contributions to democratic thought.

Pueblo

Refers to either the Native American people in the Southwestern United States known for their distinctive adobe dwellings or the towns themselves.

Puritans

A group of English Protestants in the 16th and 17th centuries who sought to "purify" the Church of England from Roman Catholic practices, advocating for simpler forms of worship and church organization.