When dealing with a loan, who benefits from compounding interest more frequently, and why?
a...
When dealing with a loan, who benefits from compounding interest more frequently, and why?
a. the lender benefits, because the interest compounded increases further interest calculations.
b. the lender benefits, because more compounds means that the borrower must pay more frequently.
c. the borrower benefits, because the interest gained can be used to pay off the loan.
d. the borrower benefits, because each increment of interest will be smaller.
Answers: 1
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