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c) The company will have to take out a loan to support either investment. The value of this loan is specified in your data set
c) The company will have to take out a loan to support either investment. The value of this loan is specified in your data set (28170.52). Two banks offer alternative ways of paying this loan off. One fixes the period of repayment at 5 years with monthly payments and an annual interest rate of 6.5%? Another fixes a monthly payment of 500 with an annual interest rate of 6%. Which alternative is the lower cost over the whole period of repayment? Assume payments are made at the end of the period.
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