2. Alice needs to borrow $6,500. First National Bank of Abilene will loan the money...
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2. Alice needs to borrow $6,500. First National Bank of Abilene will loan the money for 2 years at 11.5%, discount. Second State Bank of Amarillo will loan the money for 2 years at 13.6%, simple interest. What is the best choice? Show your work to receive credit.
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