Question: Kevan also needed a loan for the same amount ( $ 8 5 0 0 ) and was offered the same interest rate of 6

Kevan also needed a loan for the same amount ( $8500) and was offered the same interest rate of
6.2%, compounded weekly. However, Kevan decided to make monthly payments instead of paying
the loan all off at once.
a. Explain why this would be financially beneficial for Kevan. (1 mark)
Kevan also needed a loan for the same amount ( $8500)

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