Interest rate comparison trouble

In summary, the person is new to the forum and has been learning a lot from it. They came across a question that is causing them difficulty and they cannot use any resources to solve it. They have updated a graphic to show the problem and are asking for help.
  • #1
yamashek
4
0
hey guys, this is my first post.

however! i have been lurking over this forum for quite sometime and i have have learned a lot of things from this forum, and it has been very helpful!

i came across this question that is giving me a heartburn and i have scanned it below:

how do you go about doing 2c? (i have tried as you can see, but i got nowhere)

its a practice excercise that i cannot use calculator or notes or textbook.
:grumpy: :grumpy:

ques.jpg
 
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  • #2
The content of your graphic isn't visible. Why don't you just state what the problem is?
 
  • #3
sorry i just updated the graphic, it should work now.

sorry.
 
  • #4
everything works now...

guys please help me!
 
  • #5
^^^^^^^^^^
 

1. What is an interest rate comparison?

An interest rate comparison is the process of comparing the interest rates of different financial products, such as loans, credit cards, or savings accounts. This allows individuals to determine which option offers the most competitive interest rate and is the most suitable for their financial needs.

2. Why is comparing interest rates important?

Comparing interest rates is important because it helps individuals make informed financial decisions. By comparing interest rates, individuals can save money by choosing the option with the lowest interest rate, or potentially earn more by choosing the option with the highest interest rate.

3. How do I compare interest rates?

To compare interest rates, you can use online calculators, visit financial institution websites, or consult with a financial advisor. These resources can help you easily compare the interest rates of different financial products and make an informed decision.

4. What factors should I consider when comparing interest rates?

When comparing interest rates, you should consider factors such as the annual percentage rate (APR), any introductory or promotional rates, the length of the loan or credit term, and any fees associated with the product. It is also important to consider your own financial goals and needs.

5. Is it always better to choose the option with the lowest interest rate?

Not necessarily. While a low interest rate is generally favorable, it is important to consider other factors such as fees, terms, and your own financial situation. In some cases, a slightly higher interest rate may be worth it if the product offers better features or aligns with your financial goals.

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