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26 June, 06:29

Use the tables below to answer the following question. Which loan will cost the least to repay? Imported Asset Loan A $15,000 6.9% 5 years Loan B $15,500 7.9% 3 years

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  1. 26 June, 09:49
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    Loan A

    A=15,000 * (1+0.069) ^ (5)

    A=20,940.15

    Loan B

    A=15,500 * (1+0.079) ^ (3)

    A=19,471.35

    So the answer loan B
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