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Q3: Your Company is in need of financing of environmental investments. Three banks have offered loans. The first bank offers 4.5% interest, with biannual compounding.

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Q3: Your Company is in need of financing of environmental investments. Three banks have offered loans. The first bank offers 4.5% interest, with biannual compounding. The second bank offers 4.3% interest, with monthly compounding. The third bank offers 4.25% with annual compounding. Determine which is is the best offer. (15 marks)

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