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Antoinette Applied for a $6000 loan, which she will start paying back after the interest has accumulated. She had a initial offer for a simple annual interest rate of 6% for three years, but decided to consider other options. Which of the following options of all the crease the interest she pays the most?

F. $5500 loan, simple interest, annual rate of 6%, term of three years

G. $6000 loan, simple interest, annual rate of 5.75%, term of three years

H. $6000 loan, simple interest, annual rate of 6%, term of 2.8 years

J. $5500 loan, compound interest, annual rate of 6%, term of three years

Please Help

User Reini
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1 Answer

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J. $5500 loan, compound interest, annual rate of 6%, term of three years
User Serhii Holinei
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