Using an online loan calculator, determine the difference in the total cost of repaying a $2,500 easy access loan between the two payment options shown here.
Option 1: Repay the loan in 6 months with a 9% APR.
Option 2: Repay the loan in 9 months with a 12% APR.
$60.63
$126.66
$135.82
$66.03
1 answer
The correct option is $66.03.
1 answer