Question: Please help Your tuition for the coming year is due today. You have a choice to borrow $10,500 from your uncle and repay in four
Please help
Your tuition for the coming year is due today. You have a choice to borrow $10,500 from your uncle and repay in four years an amount of $15,000 or to borrow the same amount from your bank at an interest rate of 8%. Should you borrow from your bank or your uncle? Round to the nearest percent. none of these borrow from my Uncle because the interest rate charged by my uncle is 7%. borrow from my Uncle because the interest rate charged by my uncle is 6% borrow from the bank because the interest rate charged by my uncle is 9% borrow from the bank because the interest rate charned by my uncle is 8.5%
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