Answer:
the one that cost the most interest is option B.
Step-by-step explanation:
In order to select the one that costs more we need to apply the data from each one to the formula below:
M = C*r*t
Where M is the interest amount, C is the value of the loan, r is the interest rate and t is the time elapsed. We have:
A)
M = 1500*0.0625*(24/12) = 187.5
B)
M = 1500*0.06*(30/12) = 225
C)
M = 1500*0.04*(36/12) = 180
D)
M = 1500*0.0375*(42/12) = 196.875
Therefore the one that cost the most interest is option B.
