Write short explanation of partial payment

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Reference no: EM131761189

1. Write a short explanation of partial payment. Why would a company accept a partial payment? Why would a customer make a partial payment?

2. Explain the difference between 8, compounded monthly for 1 year and 8, simple interest for 1 year. If you were lending money, which type of interest would you specify? Why?

Reference no: EM131761189

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