Option 1: $4000 at 3% interest for 6 years

Option 2: $4000 at 8% interest for 5 years

Option 3: $4000 at 4% interest for 4 years

Option 4: $4000 at 8% interest for 3 years

Which is the best option where you would pay back the loan with the least expenditure?

Question

Arthur Giles

13 November, 05:50

+1

Answers (1)

Know the Answer?

Landon Kerr · Answer 1

Option 2 would have the least expenditure.

Option 1: $4000 at 3% interest for 6 yearsOption 2: $4000 at 8% interest for 5 yearsOption 3: $4000 at 4% interest for 4 yearsOption 4: $4000 at 8% interest for 3 yearsWhich is the best option where you would pay back the loan with the least expenditure?