1. 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 Creditor C4814%$7,500.00$204.94$2,337.12 Slide 1 1.Assume that you are borrowing $7,500.00 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

2. 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 Creditor C4814%$7,500.00$204.94$2,337.12 Slide 2 2.Which loan term do you predict will result in the lowest interest payment? Source: FairDebtCollection.com

3. 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 Creditor C4814%$7,500.00$204.94$2,337.12 Slide 3 3.Which do you think is the better loan option? Source: FairDebtCollection.com