You would like to borrow $10,000 to buy a new car. Youhave two possible repaymen

ID: 1247538 • Letter: Y

Question

You would like to borrow $10,000 to buy a new car. Youhave two possible repayment plans. Which plan is better if theinterest rate is 2%. YEAR OPTION1 OPTION 2 1 2630 0 2 2630 1400 3 2630 2800 4 2630 4200 5 2630 5200 please explain You would like to borrow $10,000 to buy a new car. Youhave two possible repayment plans. Which plan is better if theinterest rate is 2%. YEAR OPTION1 OPTION 2 1 2630 0 2 2630 1400 3 2630 2800 4 2630 4200 5 2630 5200 please explain

Explanation / Answer

I will tell you what my interpretation of the question is, butI may not have read the question correctly
It seems to me that Plan 1 is better since you add up thepayments and it is less than the total for plan two

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You would like to borrow $10,000 to buy a new car. Youhave two possible repaymen

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