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1. The Time Co. is trying to make a decision to purchase a loan of 5 years from either Isbank or HSBC. Isbank is offering

1. The Time Co. is trying to make a decision to purchase a loan of 5 years from either Isbank or HSBC. Isbank is offering 10% monthly compounding, and HSBS is offering a rate of 8% quarterly compounding. Which bank should the company prefer? (8 pts)

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