Question

Customer borrowed $2,000 and then further $1,000 both repayable in 12 months. What would he have saved if he had taken out a $3,000 repayable in 12 months?

Answer 1

Answer:

A customer borrowed $2000 and then a further $1000 both repayable in 12 months. What should he have saved if he had taken out one loan for $3000 repayable in 12 months?

Step-by-step explanation:

Rates loans between $0- $2,500 are 10%

Rates loans between $2,501- $7,500 are 8%

a. $60

b. $240

c. $300

d. $360

e. $540