Ann Nguyen would like an installment loan for 5,000. Her bank will loan her the money at 12% for 18 months. Her insurance company will loan her the money at 12% for 24 months. Which loan would cost her less?
anser
the 12% one
Answer:
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28.85
Step-by-step explanation:
Plug the values in and solve.
G = 5u + 2y
G = 5(2.89) + 2(5.7)
G = 14.45 + 11.4
G = 25.85