Business
Business, 09.02.2022 04:00, patrickwilson

Maria is going to take out a loan with a principal of $19,700. She has narrowed down her options to two banks. Bank M charges an interest rate of 7. 1%, compounded monthly, and requires that the loan be paid off in five years. Bank N charges an interest rate of 7. 8%, compounded monthly, and requires that the loan be paid off in four years. How would you recommend that Maria choose her loan?.

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Maria is going to take out a loan with a principal of $19,700. She has narrowed down her options to...

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