Jack needs to borrow $1,000 for one year. Bank South will give him the loan at 9%.
Question:
Jack needs to borrow $1,000 for one year. Bank South will give him the loan at 9%. Sun Coast Bank will give him the loan at 7% with a $50 loan origination fee. First National will give him the loan at 6% with a $25 loan origination fee. Determine the total interest and fees Jack will be charged in each case. Which loan should Jack choose?
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Jack should choose the loan offered by F...View the full answer
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