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  3. jenny applied for an $8,000 home improvement loan,

Jenny applied for an $8,000 home improvement loan, which she will start paying back after...

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Basic Math

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Jenny applied for an $8,000 home improvement loan, which she will start paying back after the interest has accumulated. One bank offered her a simple annual interest rate of 7% for fi years. She decided to consider other options. Which of the following change will decrease the interest she pays the most? (8.1A, 8.1B, 8.1C, 8.1G) A Simple interest, annual rate of 7.2%, term of 5 years B Simple interest, annual rate of 6.75%, term of 5 years C Simple interest, annual rate of 7%, term of 4.75 years D Compound interest, annual rate 7%, term of 5 years

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