There is another requirement for equipment and you are considering a loan for $51,232 at 3.8% interest

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Question:

There is another requirement for equipment and you are considering a loan for $51,232 at 3.8% interest over 4 years.
Show two DIFFERENT ways and calculate the results that demonstrate financial equivalence for this problem.
Looking for two different methods using COMPOUND INTEREST.
Do not show me simple and compound interest.
Do not show me two calculations that give the same solution. (IE Excel formula and hand calculation)
How much will you pay over the life of the loan in each way?
Explain the concept of financial equivalence. (Two Pieces)

1) Give the book definition.

2) Tell me what that financial equivalence means in your own words.