Question
Kristina took out a loan at a 14.1% APR, compounded monthly to buy a motorcycle and she is making monthly payments to pay off the
Kristina took out a loan at a 14.1% APR, compounded monthly to buy a motorcycle and she is making monthly payments to pay off the loan. Which of these interest rates would have allowed Kristina to pay off the loan faster?
A. 15.6% compounded monthly
B.150.0% compounded monthly
C. 13% compounded monthly
D. 14.4% compounded monthly
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Financial Management For Public Health And Not For Profit Organizations
Authors: Steven A. Finkler
2nd Edition
0131471988, 978-0131471986
