Interest rate: You are in need of cash and turn to your uncle, who has offered to
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Interest rate: You are in need of cash and turn to your uncle, who has offered to lend you some money. You decide to borrow $1,300 and agree to pay back $1,500 in two years. Alternatively, you could borrow from your bank, which is charging 6.5 percent interest annually.
Should you borrow from your uncle or the bank?
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Related Book For
Fundamentals Of Corporate Finance
ISBN: 9781119795438
5th Edition
Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates
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