Question: Peterkin Inc needs to arrange financing for its expansion program. Sandy Bank offers to lend Peterkin the required funds on a loan in which interest

  1. Peterkin Inc needs to arrange financing for its expansion program. Sandy Bank offers to lend Peterkin the required funds on a loan in which interest must be paid monthly, and the quoted rate is 6 percent. Money Plus Bank will charge 6.8 percent, with interest due at the end of the year. Which bank should Peterkin take the loan from?

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