Question: If you take the first loan, you will be able to pay $100 monthly. If you take the second loan, you will be depositing

If you take the first loan, you will be able to pay

If you take the first loan, you will be able to pay $100 monthly. If you take the second loan, you will be depositing your saved $100 monthly on your savings account (3% APR compounded monthly) over the year and then will be making the payment. How much will you be able to pay annually on the second loan? 21 22 Monthly savings 23 Investment (Savings) APR 24 Savings period 25 Loans' APR 26 Borrowed amount 07 $100 3% 10 years 6% $8.000

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