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Jenny needs to borrow $ 1 6 , 0 0 0 for 3 years. The loan will be repaid in one lump sum at the
Jenny needs to borrow $ for years. The loan will be repaid in one lump sum at the end of the loan term. Which one of the following interest rates is best for Jenny?
percent simple interest
percent interest, compounded annually
percent simple interest
percent interest, compounded annually
percent interest, compounded annually
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