Mathematics, 07.05.2020 08:58 TwentyOnePawPrints21

Shawn is buying a new Jet Ski

for $12,500. He is considering

two credit options. Option A Offers

a 6 year loan with 8.5% interest

compounded quarterly, while

Option B offers a 5 year loan with

10% interest compounded annually.

Which is the better option and

how much will he save?

Answers: 3

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Shawn is buying a new Jet Ski

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Shawn is buying a new Jet Ski for $12,500. He is considering two credit options. Option A Offers a 6 year loan with 8.5% interest compounded quarterly, while Option B offers a 5 year loan with 10% interest compounded annually. Which is the better option and how much will he save?

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Other questions on the subject: Mathematics

Questions in other subjects:

Shawn is buying a new Jet Ski

for $12,500. He is considering

two credit options. Option A Offers

a 6 year loan with 8.5% interest

compounded quarterly, while

Option B offers a 5 year loan with

10% interest compounded annually.

Which is the better option and

how much will he save?