Number of Payments Interest Rate Amount Borrowed Monthly Payment Total Cost of Interest Creditor A7214%$7,500.00$154.54$3,626.88 Creditor B6014%$7,500.00$174.51$2,970.60.

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Number of Payments Interest Rate Amount Borrowed Monthly Payment Total Cost of Interest Creditor A7214%$7,500.00$154.54$3, Creditor B6014%$7,500.00$174.51$2, Creditor C4814%$7,500.00$204.94$2, Slide 1 1.Assume that you are borrowing $7, and have a choice in the term, or length of the loan. Which term (A, B, or C) will result in the lowest monthly payment? Source: FairDebtCollection.com

Number of Payments Interest Rate Amount Borrowed Monthly Payment Total Cost of Interest Creditor A7214%$7,500.00$154.54$3, Creditor B6014%$7,500.00$174.51$2, Creditor C4814%$7,500.00$204.94$2, Slide 2 2.Which loan term do you predict will result in the lowest interest payment? Source: FairDebtCollection.com

Number of Payments Interest Rate Amount Borrowed Monthly Payment Total Cost of Interest Creditor A7214%$7,500.00$154.54$3, Creditor B6014%$7,500.00$174.51$2, Creditor C4814%$7,500.00$204.94$2, Slide 3 3.Which do you think is the better loan option? Source: FairDebtCollection.com