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Joy is taking out a car loan which she’ll pay back with interest. Which option will require her to pay the lowest amount in interest?

Joy is taking out a car loan which she’ll pay back with interest. Which option will require her to pay the lowest amount in interest?
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3 votes
Joy is taking out a car loan which she’ll pay back with interest. Which option will require her to pay the lowest amount in interest?

User Valeriy Gorbatikov
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8.2k points

1 Answer

6 votes
Lowest amount of interest would be annual compounding.
User Greg Parker
by
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