Joy is taking out a car loan which she will pay back with interest.which option will require her to pay the lowest amount in interest?
Social Studies
collin32
Question
Joy is taking out a car loan which she will pay back with interest.which option will require her to pay the lowest amount in interest?
1 Answer

1. User Answers ahmedishaal
The answer is "annual compounding".
With whatever is left of the compoundings she should pay more cash. With a semiyearly rate she wil need to pay right around 1000 dollars more than in an anual intensifying. With a quarterly period she should pay nearly an indistinguishable sum from a semiyearly period. Presently with a monthly time span she would need to pay just about 2000 dollars of interest.