Consider the following two loans for P 7 500 Loan A 5 year

Last updated: 7/20/2023

Consider the following two loans for P 7 500 Loan A 5 year loan annual interest rate of 7 monthly repayments of 148 51 Loan B 3 year loan annual interest rate of 10 monthly repayments of 242 00 On which loan will you pay the least interest Select the correct answer below Loan A O Loan B