Exception of the interest rates


Problem:

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 7.75 percent, compounded daily. Loan B offers a rate of 8 percent, compounded semi-annually. Which loan should you select and why? Elucidate comprehensively and provide all workings and methods.

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Finance Basics: Exception of the interest rates
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