Question

Jasper took out a loan at an 8.2% APR, compounded monthly, to buy a

dresser, and he is making monthly payments to pay off the loan. Which of
these interest rates would have allowed Jasper to pay off the loan faster?

Answer 1

Answer: 7.8% compounded monthly

Explanation:

Answer 2

7.8% compounded monthly

Explanation:

Whatever option is the lowest interest rate is correct. Just took on APEX