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Calculate the CAT (total annual cost) for option 1 and then find which option is better to ask for a loan and explain why is
Calculate the CAT (total annual cost) for option 1 and then find which option is better to ask for a loan and explain why is it better.
1. Personal Loan | |||||||||
MNL Bank | |||||||||
2.25% | simple monthly interest rate | ||||||||
2. Savings Bank | |
CAT= | 30% |
3. XYZ Bank | |
CAT= | 28.30% |
4. 123 Bank | |
CAT= | 26.64% |
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