Given the following information which financing method has the lowest interest cost? How

much interest savings do you make by using the financing method with the lowest interest

cost

$?$

$[$

$3$

$]$

Loan Bankers

$$

$$Acceptance

Amount R

$3$

$5$

$0$

$0$

$0$

$0$

$0$

$$R

$3$

$5$

$0$

$0$

$0$

$0$

$0$

Term

$1$

$8$

$0$

$$days

$1$

$8$

$0$

$$days

Rate: Prime

$+$

$3$

$.$

$5$

$\%$

$$Banker

$$

s Acceptance rate

$+$

$3$

$.$

$5$

$\%$

$9$

$\%$

$+$

$3$

$.$

$5$

$\%$

$7$

$.$

$9$

$\%$

$+$

$3$

$.$

$5$

$\%$