Question: Kim - Ly Vanhs bank granted her a single - payment loan of $ 2 , 5 8 0 for 9 0 days at 1

Kim-Ly Vanhs bank granted her a single-payment loan of $2,580 for 90 days at 12% ordinary interest. Her moms bank granted her the loan for 85 days at 13% exact interest. A) Which one is the best option? How much would she save?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!