Megan borrowed $50,000 at 5% simple interest for 6 years. Joseph borrowed $60,000 at 4% simple interest for 8 years. Using the formula m=P+Prt/12t, who will have a greater monthly payment, m, and by how much?
A. Megan will pay approximately $8 dollars more per month.
B. Megan will pay approximately $78 dollars more per month
C. Joseph will pay approximately $8 dollars more per month.
D. Joseph will pay approximately $78 dollars more per month.
Answers (2)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Megan borrowed $50,000 at 5% simple interest for 6 years. Joseph borrowed $60,000 at 4% simple interest for 8 years. Using the formula ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Jeff brought cookies to school for his birthday. He divided them equally among his 24 classmates. If every classmate got 3 cookies, how many did he bring to school?
Answers (2)
Sals book is 52 pages. Sal already read 18 pages. He plans to read 10 pages each day until he finishes the book. Estimate how many days it will take sal to finish reading the book
Answers (1)
Tina is making 5 batches of cookies for her friends. Each batch calls for 2/3 cup of oatmeal. How many cups of oatmeal will she use?
Answers (2)
17. Of the following numbers, which one is prime: 14, 13, 21, 33? A. 14 B. 33 c. 21 D. 13
Answers (1)
Jared made 12 3/4 cups of snack mix for cups of snack mix for a party. His guests are 2/3 of the mic. How much snack mix did his guests eat. a. 4 5/12 b. 4 1/2 c. 8 1/2 d 12 5/7
Answers (1)
New Questions in Mathematics
Monica has saved $735 for a new guitar and lessons. her guitar costs $475, and guitar lessons are $25 per hour. determine how many hours of lessons she can afford.
Answers (1)
If you practice a musical instrument each day doe 2/3 of an hour, how many hours of practice will you get in each week?
Answers (1)
Reduce each ratio to its lowest form 2:16 and 14:36
Answers (1)
4/10:2/3 how do I do this?
Answers (1)
Suppose the current price of gasoline is 2.63 per gallon. Find the current price index number using the 1975 price of 56.7 cents as a reference value
Answers (1)