Home money Are interest rates on a loan the same or different in almost every country? (Money, economics and finance)

Are interest rates on a loan the same or different in almost every country? (Money, economics and finance)

by drbyos

Hey I don’t understand this task. Can someone explain it to me? It doesn’t matter whether there is a solution at the end (preferably based on the task, of course) but my concern is that I want to know how exactly to calculate something like that because I will soon be writing a math assignment but can hardly do anything.

thanks

Task:

Ms. Luschkowski wants to buy a new stereo system for € 899, but can only raise € 300 immediately. She would like to pay the rest in three installments. For this, the dealer requires 1% of the remaining amount as a surcharge.

At the bank, Ms. Luschkowski can get a loan for the remaining amount, which she has to repay in six monthly installments. The bank charges 7.25% interest on this loan.

Which variant is cheaper?

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