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The Rutherfords are wanting to borrow approximately $10,000 for a vacation but are unsure what type of credit product they should apply for . Please
The Rutherfords are wanting to borrow approximately $10,000 for a vacation but are unsure what type of credit product they should apply for. Please explain the following to the Rutherfords: (8 marks)
a) Explain three differences between a loan versus a line of credit.
b) Explain the difference between a fixed versus variable rate.
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