2.Review the loan accounts available from the Australian commercial bank your group has been allocated. Identify three different types of loans which may be appropriate for someone who wishes to borrow $8,000 for a holiday. You should provide include an explanation any preconditions (e.g. assets) required with any of the loan options.
Assume they wish to repay the loan with monthly repayments over the next 2 years. Calculate the monthly repayments and the total interest that would be paid under each loan option. (Information from your bank (brochures, reports, website))
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