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A business needs money for a new project and looking for loans. If the business gets the loan, it will pay back as a single

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A business needs money for a new project and looking for loans. If the business gets the loan, it will pay back as a single payment of $176,000 in ten years' time. A bank offers two options to the business: 9.00% APR with semi-annual compounding or 8.00% APR with quarterly compounding. How much greater is the Present Value (PV) of this loan with 9.00% rate than 8.00% rate? $7,178 $6,732 $10,049 $7,346 O $5,742

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