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A couple needs to get a loan of $5,000 and has to choose between three...

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Basic Math

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A couple needs to get a loan of $5,000 and has to choose between three options.Option A: 21% compounded quarterlyOption B: 3% compounded every 4 monthsOption C: 4-1% compounded semi-annuallyIf they make no payments for 5 years, which option will give them the least amount owed after 5 years? Use a mathematical model for each option to explain your choice.

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