Due to an important situation Krish is in need of Dh. 8000 . He has two ways to fulfil his need Way 1:- withdraw money using his credit card . He has to pay Dh 4000 as interest after 5 years. Assume that he didn’t repaid the amount before 5 years.

Way 2:- Take a loan of Dh 8000 from bank for 3 years at 10% rate of interest . (Krish will not pay money before the 3 years.)

A) What do you suggest which one is the best option? Explain through calculation

B) How can you decrease the interest on a loan of Dh3000 financed for a period of 5

years?

SELECT ALL THAT APPLY

a. Add more to the principal

b. Take out a loan to the lower interest rate.

c. Decrease the number of years

d. Increase the number of years.