You wish to borrow $1,000 for 6 years to start a business. You approach different lenders who have the following offers. Which is the best lender to borrow from? All percentage rates are rounded to 6 decimal places.

Select one:

a. 11.494938% pa APR compounding quarterly where there are exactly 4 quarters per year.

b. 11.660105% pa APR compounding semi-annually where there are exactly 2 semi-annual periods per year.

c. 2.873734% as an effective quarterly rate where there are exactly 4 quarters per year.

d. 0.028096% as an effective daily rate where there are exactly 365 days per year.

e. I'll lend you the $1,000 now if you pay me a single payment of $1,973.82 in 6 years, with no other payments in between.