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Airida [17]
3 years ago
11

you are looking to borrow $60,000 for college and are researching available loan options online. you narrow your choices to 2 of

fers. the first comes from a bank offering you 8.1% annual simple interest with no money down while the second comes from a bank that offers you a 6.65% annual interest rate with a 10% down payment. both banks require the loan to be repaid in 10 years. what is the cost of each loan?
Mathematics
1 answer:
Lunna [17]3 years ago
8 0
60000(0.081)10+60000=$108600

60000(.1)+60000(.0665)(10)+60000=$105900
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TURKEY 0.15xy+20y

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x is the number of texts and y is the number of months

400 texts will need to be sent each month because solving the equation 0.15xy+20y=0.20xy+0y

0.15xy+20y=0.20xy

-0.05xy+20y=0

-0.05xy=-20y

turn -0.05xy into (-y/20)x

(-y/20)x=-20y

((-y/20)x=-20y)/-y/20

x=-20y/-y/20

x=400

TURKEY plan because 0.15(500)y+20y is 95y and 0.20(500)y+0y is 100y, meaning TURKEY would be cheaper.

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