You wish to borrow $2,500 for 10 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.

a.

12.90251% pa APR compounding semi-annually where there are exactly 2 semi-annual periods per year.

b.

13.174622% pa APR compounding monthly where there are exactly 12 months per year.

c.

6.770783% as an effective semi-annual rate where there are exactly 2 semi-annual periods per year.

d.

3.329948% as an effective quarterly rate where there are exactly 4 quarters per year.

e.

I'll lend you the $2,500 now if you pay me a single payment of $9,268.05 in 10 years, with no other payments in between.