Anne Morgan wants to borrow $6,000 for a period of four years. She has two choices, Her banic will lend her the amount-at 7.25 percent-compounded annually. She can also borrow from her firm and will have to repay a total of $8,130.93 at the end of four yoars: Should Anne choose her bank or the firm, and what is the interest rate if she borrows from her firm? She should borrow from her firm as it is charging a lower interest of 7% She should borrow from the bank as the firm is charging a higher interest of 8%. She should borrow from her firm as it is charging a lower interest of 6%. She should borrow from the bank as the bank is charging a higher interest of 9%