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You have just received a loan in the amount of $10,000 from bank. The loan term is 5 years. The bank has offered you two

You have just received a loan in the amount of $10,000 from bank. The loan term is 5 years. image text in transcribed

The bank has offered you two methods for paying off your loan (a compound interest rate of 5% is assumed): If your goal is to minimize the total payment, which method of payment to you choose? Show the details of your decision

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