Comparing Loans You need to borrow $5000 right now but can repay the loan in 9 months
Chapter 6, Problem 64(choose chapter or problem)
Comparing Loans You need to borrow $5000 right now but can repay the loan in 9 months. Since you want to pay as little interest as possible, which type of loan should you take: a discounted loan at 8% per annum or a simple interest loan at 8.5% per annum?
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