Question

Eric needs a $1,500 loan in order to buy a drone. Which loan option would cost him the MOST in interest?

A) A 24-month loan with a 6.25% annual simple interest rate.
B) A 30-month loan with a 6.00% annual simple interest rate.
C) A 36-month loan with a 4.00% annual simple interest rate.
D) A 42-month loan with a 3.75% annual simple interest rate.

Answer 1

Pretty sure its A

Explanation:

wait hold on im wrong

how do you delete an answer

Answer 2

It would be B

24 months- 6.25% x 2 = 12.5%
30 months- 6.00% x 2.5 = 15%
36 months- 4.00% x 3 = 12%
42 months- 3.75% x 3.5 = 13.125%