Jocelyn Dixon needs to borrow $4,000. First State Bank will lend her the money for 12 months
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Jocelyn Dixon needs to borrow $4,000. First State Bank will lend her the money for 12 months through a single payment loan at 8 percent, discount; Home Savings and Loan will make her a $4,000, single payment, 12-month loan at 10 percent, simple interest. From where should Jocelyn borrow the money? Explain.
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Related Book For
Personal Financial Planning
ISBN: 9780357438480
15th Edition
Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk
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