Question

Dakota is using the online calculator to determine how much interest she will pay on a $20,000 loan at a 7% annual interest if paid off in five years. Which shows the correct values Dakota should input to the online calculator to find a solution?

A. Balance: $20,000
APR:7%
Time to repay (months):60
B. Balance: $20,000
APR:7%
Time to repay(months):5
C. Balance: $20,000
APR:5%
Time to repay(months):7
D. Balance: $20,000
APR: 5%
Time to repay(months):84

Answer 1

I'm giving medals!

Answer 2

It's just multiple choice

Answer 3

Why are you struggling with this? Rule out the silly answers.

Here are the candidates:

A. Balance: $20,000 APR:7% Time to repay (months):60
B. Balance: $20,000 APR:7% Time to repay(months):5
C. Balance: $20,000 APR:5% Time to repay(months):7
D. Balance: $20,000 APR: 5% Time to repay(months):84

The loan is $20,000. This rules out nothing. They all say that.
The annual interest is 7%. This eliminates C and D.

These guys are left.
A. Balance: $20,000 APR:7% Time to repay (months):60
B. Balance: $20,000 APR:7% Time to repay(months):5

The term is five years. This eliminates B.

Here's your winner.
A. Balance: $20,000 APR:7% Time to repay (months):60

Either you are playing games with us or you should be embarrassed?