Answer to Question #59820 in Finance for Noja
international bank. The branch manager, who is an expatriate, has asked you a question on
the different types of interest rate quotations. The question he asked is which rate should
the bank advertise on monthly-compounded loans - the nominal annual percentage rate or
the effective annual percentage rate? And which rate should the bank advertise on
quarterly-compounded savings accounts? Please explain to the branch manager which
quotation would attract consumers and why?
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