Moving to another question will save this response Question 29 You have a choice of borrowing money from a finance company or a commercial bank and you are given the following options: Option 1 - The commercial bank charges an effective annual rate (EAR) of 10-20% Option 2 - the finance company charges 9.90% per annum compounded monthly Do not use the sign, Round your answer to two decimal places Calculate the EAR for Option 2 (finance company). Insert your answer here Which option is more attractive? Provide a reason in your explanation. Insert your answer here Moving to another question will save this response