Question
Aaron needs a $7,500 loan in order to buy a car. Which loan option would allow him to pay the least amount of interest?
An 18-month loan with a 3.85% annual simple interest rate
A 24-month loan with a 3.3% annual simple interest rate
A 36-month loan with a 3.75% annual simple interest rate
A 30-month loan with a 2.8% annual simple interest rate
An 18-month loan with a 3.85% annual simple interest rate
A 24-month loan with a 3.3% annual simple interest rate
A 36-month loan with a 3.75% annual simple interest rate
A 30-month loan with a 2.8% annual simple interest rate
Answers
GPT 3.5
A 24-month loan with a 3.3% annual simple interest rate would allow Aaron to pay the least amount of interest.