eveblack07 eveblack07

23-05-2017
Business

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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?
ASemi-Annual Compounding
BAnnual Compounding
CDaily Compounding
DMonthly Compounding

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deawesomeking deawesomeking

23-05-2017

Unless the bankers are serious money moochers, the lowest interest (In Total Amount) will be:
C. Daily Compound
This is the most likely because the more time you take to pay your debt the more you have to pay in interest.

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