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Question 6 Rahni will choose an $18 000 loan from one of two financial institutions, the FAB or Uncommon Bank Watch this Interested? space !

Question 6 Rahni will choose an $18 000 loan from one of two financial institutions, the FAB or Uncommon Bank Watch this Interested? space ! 11.1% pa. for 4 years 10.5% pa for 5 years uncommon OFAB BANK a) For each bank, calculate the simple interest diaryed FAB Bank uncommon bank total repayment FAB Bank uncommon bank monthly repayments FAB Bank uncommon bank b) Advise Rahni on which loan to take Justify your advice based on the loan amounts, durations and any other relevant factors

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