Compare the total amount of interest that would be paid on a $1000 loan over a 10-year period, if the effective rate of interest is 9% per annum, under the following three repayment methods:

(i) The entire loan plus accumulated interest is paid in one lump-sum at the end of 10 years. 

 (ii) Interest is paid each year as accrued and the principal is repaid at the end of 10 years. 

(iii) The loan is repaid by level payments over the 10-year period.

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