Your Firm Is Looking at Expanding Its Operations and Need

Your firm is looking at expanding its operations and need to borrow $2 million for 5 years. Three banks have submitted their interest rate quotes (all Annual percentage rates) : Bank A: 15% compounded daily; Bank B: 15% compounded weekly; and Bank C: 15% compounded monthly. Which bank should the firm borrow from?

A) Bank A.
B) Bank B.
C) Bank C.
D) Any bank would do since the APR is the same across all banks.