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Business, 11.12.2019 03:31 deedee363

Your uncle fred just purchased a new boat. he brags to you about the low 6.9 % interest rate (apr, monthly compounding) he obtained from the dealer. the rate is even lower than the rate he could have obtained on his home equity loan (7.9 % apr, monthly compounding). but if his tax rate is 27 % and the interest on the home equity loan is tax deductible, which loan is truly cheaper?

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