A person gets a loan to make a $3000 purchase.Which borrowing situation will allow thisperson to pay the loan off in the least amount of time at 0% interest?

If you borrow $1100 with a simple discount rate of 10% for 4 months, how much will you need to repay?

The business has a loan of $50,000 and makes interest-only repayments of 1% interest per month. It is the end of the month and they are making their $500 interest payment.

A man took loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Rs. 5400 interest only for the period. The principal amount borrowed by him was:Choices:- Rs.2000 Rs.10000 Rs.15000 Rs.20000

Which person would benefit most from taking advantage of a low variable interest rate?A.Erica needs to borrow money to attend college, but she doesn't have a good credit history.B.Evan needs to borrow money to pay for car repairs, but he will be able to pay off the loan within two to three months.C.Emilio needs a loan to support his business and needs his payments to be as predictable as possible.D.Ellie has just found her dream home and wants to get a mortgage that will allow her to live there forever.

The following loan is a simple interest amortized loan with monthly payments. (Round your answers to the nearest cent.)$6000, 812%, 4 years