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(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

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(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 9 percent compounded monthly or from a bank at an APR of 10 percent compounded weekly. Which alternative is more attractive? a. If you borrow $100 from a finance company at an APR of 9 percent compounded monthly for 1 year, how much do you need to payoff the loan

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