Question: You are considering options from two roofing contractors to fix your roof. Option A will last you 10 years and cost $5,300 whereas Option B

You are considering options from two roofing contractors to fix your roof. Option A will last you 10 years and cost $5,300 whereas Option B will last 20 years and cost $8,200. If you are planning to take a home equity loan from your bank, at what interest rate would you be indifferent to the two options. (Hint: Use Goal Seek)

A		12.82%
B		6.22%
C		5.15%
D		Cannot be deduced

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