Suppose you decide to borrow $15,000 for a new car. You can select one of the following for loans, each requiring regular monthly payments. Loan A offers 3 years at 5.1%, Loan B offers 5 years at 6.4%.
A) Find the monthly
payment and total interest paid for loan A.
B). Find the monthly
payment and total interest paid for loan B.
C). Compare the monthly payment and total interest paid for the two loan options.
