(Compound interest with nonannual periods?) After examining the various personal loan rates available to? you, you find that you can borrow funds from a finance company at an APR of 9 percent compounded quarterly or from a bank at an APR of 10 percent compounded weekly Which alternative is more? attractive?
If you borrow ?$100 from a bank at an APR of 10 percent compounded weekly for 1 ?year, how much do you need to payoff the? loan?
Please show all work and the formula that is used.