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10) (15 points) A bank is offering two loan schemes: i) borrow rate of 13% per annum with quarterly compounding ii) deposit rate of 13.1%

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10) (15 points) A bank is offering two loan schemes: i) borrow rate of 13% per annum with quarterly compounding ii) deposit rate of 13.1% per annum with semi-annual compounding a) b) Compute APR for both schemes. Which one should one pick

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