which loan has the lowest total repayment?\nmonthly payment per $100\napr 3 years 4 years 5 years\n6.9%…

which loan has the lowest total repayment?\nmonthly payment per $100\napr 3 years 4 years 5 years\n6.9% $3.08 $2.39 $1.98\n7.9% $3.13 $2.44 $2.02\n8.9% $3.18 $2.48 $2.07\nloan a $17,601 6.9% 5 years\nloan b $16,290 8.9% 3 years\na\nb\nthey are the same.

which loan has the lowest total repayment?\nmonthly payment per $100\napr 3 years 4 years 5 years\n6.9% $3.08 $2.39 $1.98\n7.9% $3.13 $2.44 $2.02\n8.9% $3.18 $2.48 $2.07\nloan a $17,601 6.9% 5 years\nloan b $16,290 8.9% 3 years\na\nb\nthey are the same.

Answer

Explanation:

Step1: Identify the given total repayments

Loan A has a total repayment of $$17,601$. Loan B has a total repayment of $$16,290$.

Step2: Compare the amounts

Since $16290< 17601$, Loan B has a lower total repayment.

Answer:

B