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Your friend is looking to take loan with their bank in the amount of $17.000. The bank offers your friend a 3 year loon with
Your friend is looking to take loan with their bank in the amount of $17.000. The bank offers your friend a 3 year loon with an annual interest rate of 4% but provides 3 different options for the form of loan payments: pure discount interest-only and amortized with equal total payments. Show your friend the calculations for each type of loan and advise them which loan would be best
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