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You need to borrow $250,000 for your College expenses. There are two types of student loans available. Loan A has an interest rate of 8%
You need to borrow $250,000 for your College expenses. There are two types of student loans available. Loan A has an interest rate of 8% per year and has to be repaid in full in one single payment after 3 years. Loan B has an interest rate of 4% per year and has to be repaid in full in one single payment after 6 years. How much interests would you pay in total for each type of loan?
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