Question
Speedy Loans will loan $5,000 for a $6,400 payback in three years. Handy Loans will loan $5,000 at 8.95% for three years. Which loan would
Speedy Loans will loan $5,000 for a $6,400 payback in three years. Handy Loans will loan $5,000 at 8.95% for three years. Which loan would be a potential borrower find least costly?
| Speedy Loans as the interest rate is 8.58% | ||
| Handy Loans as the interest rate is 8.95%. | ||
| Speedy Loans as the interest rate is 8.75% | ||
| Pick either one as the interest rates are the same. | ||
| none of the above |
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Finance
Authors: Angelico Groppelli, Ehsan Nikbakht
7th Edition
1438010362, 9781438010366
