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Nombulelo Makwete has been shopping around for a loan to finance the purchase of a used car she is buying. She needs to borrow R205
Nombulelo Makwete has been shopping around for a loan to finance the purchase of a used car she is buying. She needs to borrow R205 000. She found four offers that seem to be attractive, but would like to choose the offer with the lowest annual interest rate. The information she was provided by the banks were as follows: You may assume that the interest on all four loans above are compounded monthly. Which loan should Nombulelo take if she wants to choose the loan with the lowest annual interest rate? a) Loan A b) Loan B c) Loan C d) Loan D e) None of the above Nombulelo Makwete has been shopping around for a loan to finance the purchase of a used car she is buying. She needs to borrow R205 000. She found four offers that seem to be attractive, but would like to choose the offer with the lowest annual interest rate. The information she was provided by the banks were as follows: You may assume that the interest on all four loans above are compounded monthly. Which loan should Nombulelo take if she wants to choose the loan with the lowest annual interest rate? a) Loan A b) Loan B c) Loan C d) Loan D e) None of the above
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