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Reade this case carefully. You relative asks you to lend him money and promised to pay you 8% per year. You know that the bank

Reade this case carefully. "You relative asks you to lend him money and promised to pay you 8% per year. You know that the bank offers 5% return on a saving account. You declined to lend your relative, and, instead, you deposited you money in the bank to earn 5%. Your relative ended up taking a loan from the bank at 12%". Based on what we covered in class, comment generally on this case.

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