You are considering two loans. The terms of the two loans are equivalent with the exception of the interest rates. Loan A offers a rate of 9.25 percent, compounded semiannually. Loan B offers a rate...

You are considering two loans. The terms of the two loans are equivalent with the exception of the interest rates. Loan A offers a rate of 9.25 percent, compounded semiannually. Loan B offers a rate of 9.1 percent, compounded daily. Which loan should you select and why?