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4. DEF Bank will give your company a one-year loan at an interest rate of 20 percent payable at maturity, while UVW Bank will lend

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4. DEF Bank will give your company a one-year loan at an interest rate of 20 percent payable at maturity, while UVW Bank will lend on a discount basis at a 19 percent interest rate. Based on effective interest rate, which bank would you choose? Explain. (10 points)

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