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2.2 The farmer's son wants to buy a new phone for R15 500 but does not have any money. He has two options. Option A:
2.2 The farmer's son wants to buy a new phone for R15 500 but does not have any money. He has two options. Option A: He can borrow the money from his father who will lend him the money at 12,5% per annum simple interest for two years. Option B: He can borrow the money from his mum who will lend him the money at 12,5% per annum compound interest for two years. Using calculations to support your answer, indicate which option is the better option
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