The second option has a lower amount of interest paid.
In order to determine the loan option that minimizes loan payment, the future value of both loan options has to be determined.
FV = P (1 + r)^nm
FV = Future value
P = Present value
R = interest rate
m = number of compounding
N = number of years
<em><u>First loan option </u></em>
65000( 1 + 0.063/12)^300 = 312,707.21
<em><u>Second loan option </u></em>
65000( 1 + 0.048/12)^240 = 169,435.51
A similar question was answered here: brainly.com/question/23082103
84 Hope I Helped! ( Smiles)
Answer:
12 correct answers
Step-by-step explanation:
Since in the main part she scores 8.3 points for each question she answers correctly, we can assume that the number of questions she answers correctly=a
Therefor, the total number of points she achieved in the math test in the main part alone can be expressed as:
Total score(main part)=8.3×a=8.3a points
She also solved a bonus question worth=11 points
Consider expression 1 below
The total score in the whole test=Total score in the main part+Bonus points, where;
Total score in the whole test=110.6 points
Total score in the main part=8.3a points
Bonus points=11 points
Substituting the values in expression 1:
8.3a+11=110.6
8.3a=110.6-11
8.3a/8.3=99.6/8.3
a=12
Number of correct answers in the main part=a=12
10/24.
If you find the LCM of the denominators, you change the denominators to that, then take the LCM / denominator and multiply the numerator by that, making 18/24 and - 8/24. subtract with the numerators: 18 - 8 = 10. the result is 10/24
