Christina borrowed $3,000 five years ago and pays a fixed 2 percent interest rate each...
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Finance
Christina borrowed $3,000 five years ago and pays a fixed 2 percent interest rate each period on her loan. Which of the following results in lower total interest on her loan over the course of one year?
A. There can be no difference over the year if the interest rate per period is fixed. The rate must be 2% annually.
B. Waiting until the last minute to make her loan payment because she has a high discount rate.
C. Having compounding periods of one month instead of one week.
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