All else equal, the effective annual rate of interest for a bank loan paid back in quarterly installments will be __________ a bank loan paid back in…

All else equal, the effective annual rate of interest for a bank loan paid back in quarterly installments will be __________ a bank loan paid back in monthly installments.

Select one:

A. less thanB. more thanC. equal toD. The answer cannot be determined from the informatin provided.

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