ou are currently considering two different loan options for your first home purchase after

graduation. The first loan has a quoted annual rate $($APR$)$ of $10\%$ and compounds quarterly

resulting in an effective annual rate of $.$ The second loan has a quoted

annual rate $($APR$)$ of $9\mathrm{.}8\%$ and compounds daily resulting in an effective annual rate of

$.$ Because the first loan has a effective annual interest

rate, you should take out the second loan.

$($a$)10\%$; $9\mathrm{.}8\%$; higher

$($b$)10\mathrm{.}38\%$;$10\mathrm{.}29\%$; higher

$($c$)10\mathrm{.}29\%$; $10\mathrm{.}38\%$; lower

$($d$)110\mathrm{.}38\%$; $110\mathrm{.}29\%$; higher