Mathematics

15 February, 19:25

Roxanne took out a loan at a 6.8% APR, compounded monthly, to buy a kitchen counter, and she is making monthly payments to pay off the loan. Which of these interest rates would have allowed Roxanne to pay off the loan faster?

A. 7.2%, compounded monthly

B. 7.6%, compounded monthly

C. 8.0%, compounded monthly

D. 6.4%, compounded monthly

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