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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 9 percent compounded

After examining the various personal loan rates available to you. You find that you can borrow funds from a finance company at 9 percent compounded quarterly or from a bank at 10 percent compounded monthly. Which alternative is more attractive? If you borrow $100 from a finance company at 9 percent compounded quarterly for 1 year, how much do you need to pay off the loan? $ (Round to the nearest cent.)

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