Three options for loan-which one is the lowest monthly cost

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Reference no: EM13896642

You have three options for a loan. Which one is the lowest monthly cost? (4 pts)

Options A B C

Loan amount 20,000 20,000 20,000

Interest rate 6%/yr 5/5%/yr 6% per year

Compounding period quarterly Annual monthly

Reference no: EM13896642

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