Lamar is considering two loans. Loan ALoan BPrincipal$4,500$4,300Interest rate5%6%Time in years33Which loan will have the lowest total payback?
A
Loan A will have the lowest total payback because the amount of interest paid is less than the amount of interest paid for loan B.B
Loan A will have the lowest total payback because the total of the principal and the interest paid for loan A is less than the same total for loan B.C
Loan B will have the lowest total payback because the interest is less than the interest for loan A.D
Loan B will have the lowest total payback because the total of the principal and the interest paid for loan B is less than the same total for loan A.