You take out a loan for $175,000. Which option will cost you less? A) Simple Interest rate of 4.17% over 15 years B) Compound Interest rate of 3.5% over 15 years Is it option a or b or both

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asked Dec 25, 2021 135k views

3 votes

You take out a loan for $175,000. Which option will cost you less?

A) Simple Interest rate of 4.17% over 15 years
B) Compound Interest rate of 3.5% over 15 years
Is it option a or b or both

Mathematics
high-school

Limos asked

by Limos

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1 Answer

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A is the answer because it’s a better one I think

Fingolfin answered Dec 30, 2021

by Fingolfin

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