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3. When you go to bank to apply 18-month, $1,000 loan, there are two methods to calculate the financial charge: single-payment and the discount method.
3. When you go to bank to apply 18-month, $1,000 loan, there are two methods to calculate the financial charge: single-payment and the discount method. If the interest rate is 6 percent, please determine the APR in each case. Which one will you choose? Why
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