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Romashka-Z-Leto [24]
3 years ago
11

A customer borrowed $2000 and then a further $1000 both repayble in 12 months. What would he have saved if he had taken out one

loan for $3000 repayable in 12 months?
Mathematics
1 answer:
RSB [31]3 years ago
8 0

A customer borrowed $2000 and then a further $1000 both repayble in 12 months. What would he have saved if he had taken out one loan for $3000 repayable in 12 months?

He took two different loans, it charged him loan processing fee twice, two-time documentation process, and of course, extra time spent for second loan. Instead, he could take single loan of $3000 with one-time processing fee, one-time documentation process, and time-saving also.

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