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Nancy wants to take out a 5-year personal loan. Which one of the following interests would she prefer? (2 marks) a. 4.9% p.a. effective b.

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Nancy wants to take out a 5-year personal loan. Which one of the following interests would she prefer? (2 marks) a. 4.9% p.a. effective b. 4.9% p.a. compounded monthly Oc4.8% p.a. compounded half-yearly O d. 4.8% p.a. compounded quarterly Oe. 4.75% p.a. compounded daily

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