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You intend to buy a car after graduation. The bank offers you two car loans with a 5 year repayment schedule. Rate 1 offer is

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You intend to buy a car after graduation. The bank offers you two car loans with a 5 year repayment schedule. Rate 1 offer is a fixed rate of 5% while Rate 2 is priced at the Prime rate. The current Prime rate is 4.75%. Which loan repayment would you choose? a

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