Mathematics

Mathematics, 26.01.2021 04:10, maleja2038

3. Arthur took out a $ 12,000 personal loan. The monthly payments required based on the length of the term are shown in the table. Which is a true statement about Arthur's repayment of the loan?
TERM
MONTHLY PAYMENTS
$370.53
3 years
5 years
$237.61
A. Arthur will pay about $1,339 less in interest if he chooses the 3-year loan.
B. Arthur will pay about $2,257 more in interest if he chooses the 5-year loan.
C. Arthur will pay about $918 less in interest if he chooses the 3-year loan.
D. Arthur will pay about the same amount in interest regardless of which loan length he chooses.

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