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9. Use an online loan calculator to answer the following questions: a) Morgan runs a delivery business in Vancouver and wants to expand her business.

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9. Use an online loan calculator to answer the following questions: a) Morgan runs a delivery business in Vancouver and wants to expand her business. She needs to buy 5 extra electric bicycles. Each bike costs $2900.00 and she needs to borrow to finance the cost of the bikes. What option should Morgan choose? Justify your answer. Option A: a 3-year loan at 3.5\% Option B: a 1-year loan at 2.8% 2 marks b) Carl and his partner are taking out a mortgage for their first home. They put a $200000 down payment on a $650000 home. Their mortgage broker suggests a 3.25% interest rate on a 25 -year mortgage, or a 3.39% interest rate on a 30-year mortgage. Which option would you recommend, and why? Support your answer by considering monthly payments, interest, and any other factors you consider important

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