Question: Question Consider the following two loans for P - $3,000. Loan A: 4 year loan, monthly repayments, annual interest rate of 4%. Loan B: 2

Question Consider the following two loans for P - $3,000. Loan A: 4 year loan, monthly repayments, annual interest rate of 4%. Loan B: 2 year loan, monthly repayments, annual interest rate of 8% On which loan will you pay the least interest? Select the correct answer below: Loan B Loan

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