Question

You need a loan for $1000, and you can take this loan out with Company A or Company B. Company A charges an 8% interest rate and needs to be paid off in 5 years. Company B charges a 5% interest rate and needs to be paid off in 8 years. Which company should you get a loan from and why?

Answer 1

Answer: Company b

Step-by-step explanation:

because company B is only 5percent it is better and can pay in 8 years