Question: Which loan best meets the person's needs? Homework: Chapter 4 Homework Question 8 Score: 0 of 1 point Save Someone needs to borrow $12,000 to

Which loan best meets the person's needs?

Homework: Chapter 4 Homework Question 8 Score: 0 of 1 point Save Someone needs to borrow $12,000 to buy a car and the person has determined that monthly payments of $250 are affordable. The bank offers a 3-year loan at 6% APR, a 4-year loan at 6.5%, or a 5-year loan at 7% APR. Which loan best meets the person's needs? Explain. Which loan best meets the person's needs? (Round to the nearest cent as needed ) O A. The first loan best meets the person's needs because the monthly payment of $ is less than the maximum budgeted amount of $250 per month. OB. The third loan best meets the person's needs because the monthly payment of $ is less than the maximum budgeted amount of $250 per month. O C. The second loan best meets the person's needs because the monthly payment of $ is less than the maximum budgeted amount of $250 per month. OD. None of the loans meet the person's needs

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