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A customer will borrow $12,000 to buy a car. Which loan option would allow the customer to pay the least amount of interest? A year loan with a % annual simple interest rate. 5.2 4.2 8.4

A customer will borrow $12,000 to buy a car. Which loan option would allow the customer to pay the least amount of interest? A year loan with a % annual simple interest rate. 5.2 4.2 8.4

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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A customer will borrow $12,000 to buy a car. Which loan option would allow the customer to pay the least amount of interest? A ✓ year loan with a 4 3 5 19203205 % annual simple interest rate.
Transcribed Image Text:A customer will borrow $12,000 to buy a car. Which loan option would allow the customer to pay the least amount of interest? A ✓ year loan with a 4 3 5 19203205 % annual simple interest rate.
A customer will borrow $12,000 to buy a car. Which loan option would allow the customer to pay the least amount of interest? year loan with a > % annual simple interest rate. 5.2 4.2 POSSIB 8.4
Transcribed Image Text:A customer will borrow $12,000 to buy a car. Which loan option would allow the customer to pay the least amount of interest? year loan with a > % annual simple interest rate. 5.2 4.2 POSSIB 8.4
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