Based on the present values of the personal loan of $2,500 at their different duration and interest rates, the cheapest loan is a. Loan A.
Data and Calculations:
Loan Duration (Months) Interest Rate Payments Total Interest
Monthly Total Expense
A 12 9. 50% $219.21 $2,630.51 $130.51
B 24 8. 75% $113.93 $2,734.21 $234.21
C 36 7. 75% $78.05 $2,809.90 $309.90
D 48 6. 60% $59.40 $2,851.33 $351.33
Personal loan amount = $2,500
Thus, Loan A is the cheapest because it has the highest present value and the lowest interest expense.
Learn more about determining the cheapness of loans in the long-runbrainly.com/question/9028806
True
False
Answer:
False
Explanation:
A.)shares
B.)bonds
C.)annuities
The correct answer is unsought products. This is known asthe goods by which the consumers have no knowledge about or that these are theproducts that they doesn’t normally sink in their mind of choosing of buyingthan those that they normally buy and need.