You have been offered two loans: Offer A Loan of $12,000 Simple Interest Offer B Loan...

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You have been offered two loans: Offer A Loan of $12,000 Simple Interest Offer B Loan of $12,000 Compounded Monthly Annual Interest Rate of 6% Annual Interest Rate of 6% 100 Months 100 Months Which offer will require less money to be paid back at the end of the 100 Months? Offer A With offer A, the amount that would need to be paid back at the end of 100 Months will be $18,000 With offer B, the amount that would need to be paid back at the end of 100 Months will be $19,760.02 You have been offered two loans: Offer A Loan of $12,000 Simple Interest Offer B Loan of $12,000 Compounded Monthly Annual Interest Rate of 6% Annual Interest Rate of 6% 100 Months 100 Months Which offer will require less money to be paid back at the end of the 100 Months? Offer A With offer A, the amount that would need to be paid back at the end of 100 Months will be $18,000 With offer B, the amount that would need to be paid back at the end of 100 Months will be $19,760.02

Answer rating: 100% (QA)

Based on the given terms Offer A requires less money to be paid back at the end of the 100 months co... View the full answer