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You want to borrow $200,000 in order to purchase an asset for the company you created in Unit II, so you visited two banks. One

You want to borrow $200,000 in order to purchase an asset for the company you created in Unit II, so you visited two banks. One bank will offer you a loan at a 10% annual interest rate for 5 years. The second bank will offer you a $200,000 loan at 2% a month for 5 years. Which would you decide to choose, and why? Show your calculations.

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