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12. Josephine is purchasing a used car. Her bank has offered a loan of H $5000 at 5% / a compounded monthly. The usedcar dealer

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12. Josephine is purchasing a used car. Her bank has offered a loan of H $5000 at 5% / a compounded monthly. The usedcar dealer has offered a loan of 5.25%/ a compounded semiannually. a) What is the amount owing on each loan after 1 year? b) Which loan should Josephine take and why

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