Multiple Choice
The Smart Bank wants to appear competitive based on quoted loan rates and thus must offer a 7.9 annual percentage rate. What is the maximum rate the bank can actually earn based on the quoted rate?
A) 7.90%
B) 8.18%
C) 8.20%
D) 8.22%
E) 8.39%
Correct Answer:
Verified
Correct Answer:
Verified
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