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Which of the two friends will you lend the money to

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Question - Consider a situation where two of your friends request you to lend them 900 each. While Friend A promises to return the money after one month, Friend B says that he will return the money in six monthly instalments of 160 per month. Considering the monthly interest rate to be 2.5%, which of the two friends will you lend the money to?

Reference no: EM133168553

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