Question
A single student loan was taken out for P=$5,000. Two repayment plans are offered for the loan Option A: 5 year loan, annual interest rate
A single student loan was taken out for P=$5,000. Two repayment plans are offered for the loan Option A: 5 year loan, annual interest rate of 7%, monthly repayments of $99.01. Option B: 4 year loan, annual interest rate of 8%, monthly repayments of $122.06. On which loan will you pay the least interest?
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Corporate And Project Finance Modeling Theory And Practice
Authors: Edward Bodmer
1st Edition
1118854365, 9781118854365
