ibreewi17 ibreewi17

23-01-2020
Mathematics

contestada

25. Belle had the choice of taking out a 4-year car loan at
8.5% simple interest or a 5-year car loan at 7.75%
simple interest. If she borrows $15,000, how much
interest would she pay for each loan? Which option
will require less interest?

Respuesta :

ZaneRussum ZaneRussum

24-01-2020

Answer:

the first loan is cheaper

Step-by-step explanation:

convert percent values to decimals

8.5/100=.085

7.75/100=.0775

find the value for the first loan

1550*.085*4=527

find the value for the first loan

1550*.0775*5=600.625

compare

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