Monthly Payment per $100
APR
3 years
4 years
5 years
6.9%
$3.08
$2.39
$1.98
7.9%
$3.13
$2.44
$2.02
8.98
$3.18
$2.48
$2.07
You are considering the two different car loans.
Using the payment table, which loan has the lowest monthly payment?
Loan A
Loan B
$ 17,601
$ 16,290
6.9%
8.9%
5 years
3 years
Ο Α
OB
They are the same.