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After examining the various personal loan rates available to you, you find that you can borrow funds from a finance company at an APR of

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After examining the various personal loan rates available to you, you find that you can borrow funds from a finance company at an APR of 9 percent compounded annually or from a bank at an APR of 10 percent compounded daily. Which alternative is more attractive? a. If you borrow exist100 from a finance company at an APR of 9 percent compounded annually for 1 year, how much do you need to payoff the loan? exist

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