You own Howl Coffee Inc., and just decided to open up a new store in Riverside, CA. This will cost around $200,000 and you have so in your business account! However, three banks you have visited are willing to give you the $200,000 loan to fund the Riverside store, CSUSB Bank is offering you a $200.000 loan at 8.7% simple interest (no compounding). Bank of Riverside has offered you a $200,000 loan at 8.5% compounded daily (assume 365 days in a year). Finally, Bank of Redlands has offered you an 8.4% loan compound continuously. What is the EAR of the least expensive (lowest effective interest) loan? a 8.70% 8.87% b. 8.76% C. 8.50% d