Ethel and Jack each separately apply for and receive a loan worth $7,725 apiece. Ethel has a relatively average credit rating, s

Question

3 years ago

13

Ethel and Jack each separately apply for and receive a loan worth $7,725 apiece. Ethel has a relatively average credit rating, s

o her loan has an APR of 9.14%, compounded monthly. Jack’s credit rating is excellent, so his loan has an APR of 6.88%, compounded monthly. If they both pay off their respective loans by making six years of identical monthly payments, how much more will Ethel pay than Jack?

Mathematics

2 answers:

adoni [48] · Answer 1 · 2022-03-22T07:52:09+03:00

adoni [48]3 years ago

6 0

Answer:

the answer is D. 613.44

Step-by-step explanation:

prohojiy [21] · Answer 2 · 2022-03-22T10:15:42+03:00

prohojiy [21]3 years ago

3 0

Answer:

D

Step-by-step explanation: