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You take out a loan for $175,000. Which option will cost you less? A) Simple Interest rate of 4.17% over 15 years B) Compound Interest rate of 3.5% over 15 years Is it option a …

You take out a loan for $175,000. Which option will cost you less? A) Simple Interest rate of 4.17% over 15 years B) Compound Interest rate of 3.5% over 15 years Is it option a …
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3 votes
You take out a loan for $175,000. Which option will cost you less?

A) Simple Interest rate of 4.17% over 15 years
B) Compound Interest rate of 3.5% over 15 years
Is it option a or b or both

asked
User Limos
by
8.5k points

1 Answer

3 votes
A is the answer because it’s a better one I think
answered
User Fingolfin
by
8.2k points
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