Mr. Stripling needs to take out a loan of $20,000 to be able to pay for his
Graduate courses. He can borrow from two different banks. The first
bank is Union Hill Bank, which offers him 7% interest for 3 years. The
other bank is called Emerson Bank, which offers him 5% interest for 4
years. Which bank should Mr. Stripling borrow the money from to
complete his Graduate courses? Justify your answer.
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