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Gerard wants to borrow $20 000 from a bank to start a landscaping business. Gerard...

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Accounting

Gerard wants to borrow $20 000 from a bank to start a landscaping business. Gerard has always maintained timely repayments on his personal loan, two car loans and three credit cards. With an after-tax income of $45 000, total savings of $4000 and monthly living expenses averaging $1600, will Gerards loan be approved? Explain your answer

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