Yolanda has an urgent expense she needs to pay for now, but has no cash savings at the moment. Her uncle has offered to lend her the $1300 she needs now if she agrees to repay him $1490 in 2 years. Alternatively, Yolanda has a good credit rating and could borrow the money from her bank at a rate of 6.5% per annum, compounded quarterly. What should Yolanda do and Why?

Select one: a. Borrow from the bank as this is a better option: the effective annual rate the bank is offering her is 6.5%. b. Borrow from the bank as this is a better option: the effective annual rate the bank is offering her is 6.66%. c. Borrow from her uncle as this is a better option: the effective annual rate the uncle is offering her is 6.88%. d. Borrow from her uncle as this is a better option: the effective annual rate the uncle is offering her is 7.06%.