Lamar is considering two loans. Loan A Loan B Principal $4,500 $4,300 Interest rate 5% 6% Time in years 3 3 Which loan will have the lowest total payback? Loan A will have the lowest total payback because the amount of interest paid is less. Loan A will have the lowest total payback because the total of the principal and the interest paid for loan A is less than the same total for loan
b. Loan B will have the lowest total payback because the interest is less than the interest for loan A Loan B will have the lowest total payback because the total of the principal and the interest paid for loan B is less than the same total for loan
a.
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