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

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asked Aug 9, 2020 107k views

4 votes

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?

Mathematics
middle-school

Anubha asked

by Anubha

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2 Answers

2 votes

Answer: 7.8% compounded monthly

Explanation:

Joey Gough answered Aug 11, 2020

by Joey Gough

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6 votes

Answer:

7.8% compounded monthly

Explanation:

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

Rivera answered Aug 15, 2020

by Rivera

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