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The principal of loan A is . Which loan has a higher annual percentage rate? What will be the total repayment for loan A, including interest? What will be the total repayment for loan B, including interest?

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Answer:

The principal of loan A is . $15,000

Loan b loan has a higher annual percentage rate

The total repayment for loan A, including interest is $22,367.32

The total repayment for loan B, including interest will be $19,857.02

shristiparmar1221

This question is based on the concept of simple interest. Therefore, the  loan A has a higher annual percentage rate.

Given:

The principal of loan A is . $15,000

First, we need to determined the total repayment for loan A, including interest.

  • The total repayment for loan A, including interest is $22,367.32.

  • The total repayment for loan B, including interest will be $19,857.02

Hence, from the above we observe that loan A has higher interest than loan B.

Therefore, the  loan A has a higher annual percentage rate.

For more details, prefer this link:

https://brainly.com/question/25845758

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