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a businessman needs p50,000 for his operations. one financial institution is willing to lend him the money for one year at 12.5% interest per annum

a businessman needs p50,000 for his operations. one financial institution is willing to lend him the money for one year at 12.5% interest per annum (discounted). another lender is charging 14%, with the principal and interest payable at the end of one year. a third financer is willing to lend him p50,000 in 12 equal monthly instalments of p4,600. which offer is best for him?

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