ECONOMICS
COMPOUND INTEREST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Shawn is buying a new Jet Ski for $12, 500. He is considering 2 credit options. Option A offers a 6 year loan with 8.5% interest compounded quarterly, while Option B offers a 5 year loan with10% interest compounded annually.Which option is better and how much will he save?
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A; $495.21
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A; $573.83
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B; $495.21
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B; $573.83
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Explanation:
There is 1 question to complete.