Yvette is considering taking out a loan with a principal of $16,200 from one of two banks. bank f charges an interest rate of 5.7%, compounded monthly, and requires that the loan be paid off in eight years. bank g charges an interest rate of 6.2%, compounded monthly, and requires that the loan be paid off in seven years. how would you recommend that yvette choose her loan?
a. bank f offers a better loan in every regard, so yvette should choose it over bank g's.
b. yvette should choose bank f's loan if she cares more about lower monthly payments, and she should choose bank g's loan if she cares more about the lowest lifetime cost.
c. yvette should choose bank g's loan if she cares more about lower monthly payments, and she should choose bank f's loan if she cares more about the lowest lifetime cost.
d. bank g offers a better loan in every regard, so yvette should choose it over bank f's.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Yvette is considering taking out a loan with a principal of $16,200 from one of two banks. bank f charges an interest rate of 5.7%, ...” 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
Eliminate the parameter. X=t^2+1, y=t^2-1
Answers (1)
What is 8 x 10^-3 in standard form?
Answers (2)
How many solutions does the equation 5p - 4p - 8 = - 2 + 3 have? One Two None Infinitely many
Answers (1)
What is bigger 10 pounds or 10 kilograms
Answers (2)
Rectangular kitchen has an area of 81 square feet. the kitchen is 9 times as many square feet as the pantry ... If the rectangular pantry is 3 feet wide, what is the lenght of the pantry?
Answers (1)
New Questions in Mathematics
I have two consecutive odd integers. Their sum is 16. What is the smaller integer?
Answers (1)
How do you evaluate lim (x->0) sin (9x) / 6x?
Answers (1)
What are the values of x and y? 2x+3y=15.5 x+y=6
Answers (1)
Kevin can travel 22 1/2 miles in 1/3 hours. What is the average speed in miles per hour
Answers (1)
Two equal ratios are called a
Answers (2)