Bank A is offering a loan with a simple interest rate of 8% for 2 years. Bank B is offering a loan with a simple interest rate o
f 6.5% for 3 years.
A drawing of an all-terrain vehicle. The cost of the vehicle is 5400 dollars.
a. Assuming the monthly payments are equal, what is the monthly payment for the four-wheeler from Bank A? from Bank B?
Bank A: $
Bank B: $
A drawing of an all-terrain vehicle. The cost of the vehicle is 5400 dollars.
a. Assuming the monthly payments are equal, what is the monthly payment for the four-wheeler from Bank A? from Bank B?
Bank A: $
Bank B: $
1 answer:
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Answer:
8/7 min =
Step-by-step explanation:
A rate 2 2/3 = 8/3 min per tank
B rate 2 min per tank
thus:
A rate = 3/8 tank per min
B rate = 1/2 tank per min
A+ B = 3/8 + 4/8 = 7/8 tank per min
7/8 x = 1
x = 8/7 min