AnswersPersonal Finance - EL3403Credit and Loans

Credit and Loans Answers

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1
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If Claire does not make any payments, how much will she owe after ten years?

A
$12,136.67
B
$3,481.24
C
$6,090.90
D
$3,232.74
2
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What did you include in your answer? Check any that apply.

A
the fact that the compound interest loan will require a smaller total repayment
B
the fact that the simple interest loan has a rate that is too high

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