Question

Which of these loans would cost a business the least if the business were borrowing $10,000?%0D%0A%0D%0A(1 point)%0D%0AResponses%0D%0A%0D%0Aa loan with an interest rate of 6 percent and no fees%0D%0A%0D%0Aa loan with an interest rate of 6 percent and no fees%0D%0A%0D%0Aa loan with an interest rate of 3 percent and $500 in fees%0D%0A%0D%0Aa loan with an interest rate of 3 percent and $500 in fees%0D%0A%0D%0Aa loan with an interest rate of 2.5 percent and $200 in fees%0D%0A%0D%0Aa loan with an interest rate of 2.5 percent and $200 in fees%0D%0A%0D%0Aa loan with an interest rate of 2.5 percent and $1500 in fees%0D%0A%0D%0Aa loan with an interest rate of 2.5 percent and $1500 in fees

Answer 1

[AI-generated answer — Bot GPT 3.5]

The loan with an interest rate of 6 percent and no fees would cost the business the least if the business were borrowing $10,000.