interest with nonannual periods) After examining the various personal loan rates available to you, you find that you can borrow funds from a inance company at an APR of 7 percent compounded daily or from a bank at an APR of 8 percent compounded annually Which altemative is more attractive? a. If you borrow $100 from a finance company at an APR of 7 percent compounded daily for 1 year, how much do you need to payof the loan? 01 S s (Round to the nearest cent ) b. If you borrow $100 from a bank at an APR of 8 percent compounded annually for 1 year, how much do you need to payoff the loan? (Round to the nearest cent) Based on the findings in parts (a) and (b), which altemative is more attractive? (Select the best choice below) A. The loan from the finance company at an APR of 7% compounded dal O B. The loan from the bank at an APR of 8% compounded annually