You are considering a car loan of $45,000. You can choose the term of the loan - you can pay back in 7 years or take longer and pay back in 9 years. Irrespective of your choice, the rate on this loan is 4.5% compounded bi-weekly (26 payments in a year). The less bi-weekly when repaying the loan. 9-year loan will allow you to pay.

a.$54.41

b. $63.24

c. $89.36

d. $118.02

e. $134.65

You are considering a car loan of $45,000. You can choose the term of the loan - you can pay back in 7 years or take longer and pay back in 9 years. Irrespective of your choice, the rate on this loan is 4.5% compounded bi-weekly ( 26 payments in a year). The 9-year loan will allow you to pay less bi-weekly when repaying the loan. a. $54.41 b. $63.24 c. $89.36 d. $118.02 e. 134.65