Leslie Filter would like to obtain an installment loan to make roof repairs that will cost $4,200. Her bank is offering an APR of 15% for 24 months, or an APR of 18% for 18 months. Which loan costs less? How much will Leslie save by taking the loan that costs less?
Group of answer choices
The 18% for 18 months loan will cost less. Leslie will save $65.52.
The 15% for 24 months loan will cost less. Leslie will save $65.52.
The 18% for 18 months loan will cost less. Leslie will save $64.26.
The 15% for 24 months loan will cost less. Leslie will save $64.26.
1 answer
The 18% for 18 months loan will cost less. Leslie will save $65.52.
1 answer