The answer is going to be A
Answer:
not me for sure lol
Step-by-step explanation:
I'm not sure why this is a question
Answer:
The Answer is: B. 79% and 89%
Step-by-step explanation:
Subtract 11% from 89 and 100 to get the range:
89 - (89*.11) =
89 - 9.79 = 79.21
100 - (100*.11) =
100 - 11 = 89
You are told to ignore the amount of principal paid, so you are apparently to assume the loan amount was for $50 thousand.
a) The old monthly payment was $10.67×50 = $533.50
b) The new monthly payment is $11.72×50 = $586.00
c) The increase in monthly payment is figured in the usual way:
... (new/old -1)×100% = (1.0984-1)×100% = 9.84%
_____
In reality, about 3% of the loan will have been paid at the end of 2 years. Thus, the original loan amount may have been near $51,500. This problem is telling you to ignore the difference.
