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lys-0071 [83]
3 years ago
9

Cheri took out a loan for $14,350. The loan term was 3 years and Cheri’s payments were $625.77 per month. Since Cheri had filed

for bankruptcy several years prior, she ended up paying a higher interest rate. With a better credit rating, her payments could have been $431.21 per month. How much more in interest did Cheri end up paying for her loan because of her bankruptcy? a. $5,836.80 b. $2,334.72 c. $8,624.16 d. $7,004.16
Mathematics
2 answers:
earnstyle [38]3 years ago
8 0
First we want to calculate total payments of each payment in order to find the interest. After that calculate the difference to get the answer

Total payments of 625.77
625.77×12months×3 years
=22,527.72
Interest paid
22,527.72−14,350
=8,177.72

Total payments of 431.21
431.21×12months×3 years
=15,523.56
Interest paid
15,523.56−14,350
=1,173.56

So how much more in interest did Cheri end up paying for her loan because of her bankruptcy
8,177.72−1,173.56
=7,004.16...answer

Hope it helps!
Vanyuwa [196]3 years ago
4 0

Answer:

(D) $7,004.16

just took the test

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Step-by-step explanation:

Given

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Thus, the graph of g(x) = 9x² is shown below.

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7 0
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A squared + b - c ÷ m , if a=6 , b= 8 ,c = 5 and m = 3. Is it 12 , 13, 14, or 15?
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Hello there!

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I hope this helps!
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