Question

Les Heddle needed to borrow $15,000 to do some remodeling in his store.

A) Borrowing from a bank at a fixed interest rate.
B) Using a credit card with a high annual percentage rate (APR).
C) Taking a personal loan from a friend with no interest.
D) None of the above

Answer 1

The best borrowing option would depend on the specific terms offered by each option, including interest rate, fees, and repayment terms.

Step-by-step explanation:

The subject of this question is Business. The student is asking about the best option for borrowing $15,000 to do some store remodeling. The options presented are:

1. Borrowing from a bank at a fixed interest rate
2. Using a credit card with a high annual percentage rate (APR)
3. Taking a personal loan from a friend with no interest
4. None of the above

The answer to the question would depend on the specific interest rate and terms offered by the bank and credit card, as well as the agreement with the friend for a no-interest loan. It is best to compare the interest rates, fees, and repayment terms of each option to determine which one would be the most favorable and affordable for Les Heddle.