Business, 06.05.2021 21:00 Dmend4

Choose the answer that best evaluates the following statement: Keedsler Motors Inc. needs to borrow $10,000,000. The company has been offered both simple interest and add-on interest loans. The add-on interest loan has a significantly lower interest rate than the simple interest loan.

a. The company needs to evaluate more factors than just the interest rate before deciding which type of loan it should accept.
b. The company should accept the add-on interest loan, because it will be paying less money in interest due to the lower interest rate.

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