Which option is a better deal and why

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Question: 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? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM132178220

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