Loan B
Principal
$4,500
$4,300
Mathematics, 02.12.2020 03:00, buiratsamah
Lamar is considering two loans.
Loan A
Loan B
Principal
$4,500
$4,300
Interest rate
5%
6%
Time in years
3
3
Which loan will have the lowest total payback?
Loan A will have the lowest total payback because the amount of interest paid is less than the amount of interest paid for loan B.
Loan A will have the lowest total payback because the total of the principal and the interest paid for loan A is less than the same total for loan B.
Loan B will have the lowest total payback because the interest is less than the interest for loan A.
Loan B will have the lowest total payback because the total of the principal and the interest paid for loan B is less than the same total for loan A.
Answers: 3
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Do you know the correct answer?
Lamar is considering two loans.
Loan A
Loan B
Principal
$4,500
$4,300
Loan B
Principal
$4,500
$4,300
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