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explain with reasons each options Which of the following financing arrangements offers the lowest cost of credit on an effective annual basis? a. Simple interest

explain with reasons each options
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Which of the following financing arrangements offers the lowest cost of credit on an effective annual basis? a. Simple interest loan of 15% per year. b. Trade credit, on terms 1/10, net 40, paying on the net day. c. Pawn shop credit, on terms 25%, payable after 50 days. d. A bank loan with a nominal interest of 14%, with interest com-pounded monthly

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