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Stewart needs to borrow %1000 for an automobile repair. She finds that states Nation Banks charges 5% simple interest of the amount borrowed for the
Stewart needs to borrow %1000 for an automobile repair. She finds that states Nation Banks charges 5% simple interest of the amount borrowed for the duration of the load borrowed for the duration of the loan and requires the loan to be repaid in six equal monthly payments. Consumers's Credit card union offers a loan of $1000 to be repaid in 12 monthly payments o $86.30. What are the amounts of the interest for each options. Which Option should Stewart use to save money?
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