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  • 30-05-2024
  • Business
Answered

Suppose you can borrow money at 8.5% per year (APR), compounded semi-annually or 8.4% per year (APR) compounded monthly. Which is the better deal?
a. choose the 8.5 percent per year (APR), compounded semi-annually
b. Choose the 8.4 percent per year (APR) compounded monthly
c. there is no difference between the loans

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