Answer to Question #122960 in Finance for Natasha

Question #122960
jon snow requires a loan of $15000. he enquires with three banks, bank A, bank B and bank C. bank A offers J24=6.8%; bank B offers J2=7% and bank C offers J1=6.95%. Which bank should jon get his loan from
1
Expert's answer
2020-06-26T09:55:18-0400

Jon should get the loan from the bank that charges the least interest rate. With a lower interest rate, this means that Jon will pay a low interest for the loan.


Therefore, Jon should get the loan from bank A.


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