Question

Wilbert needs a student loan to finish school. He needs $4200 and has two options.

Option A: 4 years at 4.5% interest with monthly payments of $95.77 and total payback of $4,596.96
Option B: 3 years at 4.7% interest with monthly payments of $125.31 and total payback of $4, 511.16
Which loan should Wilbert choose and how much will Wilbert save with that loan?

Answer 1

85.8

Step-by-step explains

4596.96-4200=396.96

4511.16--4200=

396.96-311.16=85.8

so 85.8 and b