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RJ has two loans. Loan H has a nominal rate of 5.68%, compounded daily. Loan I has a nominal rate of 6.33%, compounded monthly. Which loan's effective rate had the greater increase, relative to its nominal rate, and how much greater is its increase than that of the other loan?

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  1. 28 June, 18:47
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    Loan H: r = (1+5.68%/360) ^360 - 1=? Use the calculator

    Loan I: r = (1+6.33%/12) ^12 - 1=?

    Then see which greater
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