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Farmers Bank offers to lend you $50,000 at a nominal rate of5.0%, simple interest, with interest paid quarterly. Merchants Bankoffers to lend you the $50,000,

Farmers Bank offers to lend you $50,000 at a nominal rate of5.0%, simple interest, with interest paid quarterly. Merchants Bankoffers to lend you the $50,000, but it will charge 7.0%, simpleinteres 2 answers

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