(Compound interest with nonannual periods) 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 11 percent compounded daily or from a bank at an APR of 12 percent compounded semiannually. Which alternative is more attractive? a. If you borrow $100 from a finance company at an APR of 11 percent compounded daily for 1 year, how much do you need to payoff the loan? $ (Round to the nearest cent.) b. If you borrow $100 from a bank at an APR of 12 percent compounded semiannually for 1 year, how much do you need to payoff the loan? $ (Round to the nearest cent.) c. Based on the findings in parts a and b, which alternative is more attractive? (Select the best choice below.) A. The loan from the finance company at an APR of 11% compounded daily. O B. The loan from the bank at an APR of 12% compounded semiannually