Mandy Robertson has just bought a new house and wants to consolidate her finances. She has three
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Mandy Robertson has just bought a new house and wants to consolidate her finances. She has three loans outstanding. They all mature in 5 years, and she can repay them without penalty any time before maturity. The following table shows the amounts owed on each loan and the annual interest rate associated with each loan.
Mandy can also borrow an additional £24,000 to pay off all her loans. Her bank will charge a 12% annual interest rate for a period of 5 years. Should Mandy do nothing (pay off her loans individually) or borrow this additional sum to repay her loans together?
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Related Book For 
Principles Of Managerial Finance Brief
ISBN: 9781292267142
8th Global Edition
Authors: Chad J. Zutter, Scott B. Smart
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