asked 22.6k views
3 votes
PLSSS HELP!!

Chelsea needs a $5,000 loan in order to remodel her bathroom. Which loan option would allow her to pay the LEAST in interest? A) A 2-year loan with a 6.50% interest rate compounded annually. B) A 3-year loan with a 4.00% interest rate compounded annually. C) A 4-year loan with a 3.00% interest rate compounded annually. D) A 5-year loan with a 2.50% interest rate compounded annually.

asked
User Mif
by
8.0k points

1 Answer

4 votes

Answer:

B 3-year loan with a 4.00% interest rate compounded annually

Explanation:

I took the test

answered
User Jassent
by
7.8k points
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