Business, 28.01.2022 04:10 hellokitty1647

You are considering taking out one of two loans. Loan R has a principal of $17,550, an interest rate of 5. 32% (compounded monthly), and a duration of seven years. Loan S has a principal of $15,925, an interest rate of 6. 07% (compounded monthly), and a duration of nine years. Assuming that you pay back each in monthly intervals, which loan will have a greater lifetime total, and how much greater will it be? Round all dollar values to the nearest cent. A. Loan S’s lifetime total will be $1,274. 12 greater than Loan R’s. B. Loan S’s lifetime total will be $32. 99 greater than Loan R’s. C. Loan R’s lifetime total will be $350. 88 greater than Loan S’s. D. Loan R’s lifetime total will be $58. 96 greater than Loan S’s. Please select the best answer from the choices provided A B C D.

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You are considering taking out one of two loans. Loan R has a principal of $17,550, an interest rate...

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