Borrowing money-which alternative is the most attractive

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You have the choice of borrowing money from a finance company at 25 percent compounded daily or borrowing money from a bank at 27 percent compounded quarterly. Which alternative is the most attractive? If you can borrow funds from a finance company at 25 percent compounded daily the EAR for the loan is %? If you can borrow funds from a bank at 27 percent compounded quarterly the EAR for the loan is %? Which choice is most attractive?

Reference no: EM131070897

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