A Bank Offers a Loan That Will Require You to Pay

question 101

Multiple Choice

A bank offers a loan that will require you to pay 6% interest compounded quarterly. Which of the following is closest to the EAR charged by the bank?

• A)6.14%
• B)6.17%
• C)6.00%
• D)6.19%

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Definitions:

Defensive

Relating to or intended for defense; marked by an effort to deny, evade, or avoid direct answer or action.

Client's Resistance

The opposition or reluctance of a client to engage with or continue with a service or intervention.

Participatory Research

A research approach that involves all stakeholders, especially those impacted by the issue being studied, in the research process.