Ch$\mathrm{.}5$:APR

You have to borrow $$10,000.$ Which of the following loans is the most expensive in terms of the interest rate you will effectively have to pay for you?

$7\%$ APR, compounded semi$-$annually

$7\%$ APR, compounded annually

$7\%$ APR, compounded quarterly

They are all the same cost to you.

$6\mathrm{.}95\%$ APR, compounded daily

$7\%$ APR, compounded monthly