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Microeconomics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-1260566642Microeconomics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-1260566642 Exercise 4
You are considering taking out a two-year loan of $1,000 from a bank, on which you can pay either compound yearly interest of 1 percent or a flat rate of 2 percent for the whole two-year period. Which option is a better deal, and why?
Explanation
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Given information:
• Loan amount is 1,0...
Microeconomics 1st Edition by Dean Karlan,Jonathan Morduch
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