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Jack Wheel is thinking about developing a delivery business. He estimates that he would need to invest approximately $30,000 in a small transportation vehicle. He

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Jack Wheel is thinking about developing a delivery business. He estimates that he would need to invest approximately $30,000 in a small transportation vehicle. He approached three banks and received the following proposals: The loan is expected to be repaid in equal installments over the proposed time period starting at the end of each year. Given the annual interest rates and other loan terms, how much will you pay each year for the proposed loans? If Jack can only afford less than $8,000 in annual payments, which bank should he choose

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