Jocelyn is considering taking out one of the two following loans. Loan H is a three-year loan with a principal of $5,650 and an

Question

3 years ago

8

Jocelyn is considering taking out one of the two following loans. Loan H is a three-year loan with a principal of $5,650 and an

interest rate of 12.24%, compounded monthly. Loan I is a four-year loan with a principal of $6,830 and an interest rate of 10.97%, compounded monthly. Which loan will have the smaller monthly payment, and how much smaller will it be? Round all dollar values to the nearest cent.

Mathematics

2 answers:

Alexus [3.1K] · Answer 1 · 2022-06-26T12:28:18+03:00

Alexus [3.1K]3 years ago

7 0

<span>c.<span>Loan I's monthly payment will be $11.88 smaller than Loan H's.</span></span>

tino4ka555 [31] · Answer 2 · 2022-06-26T13:43:50+03:00

tino4ka555 [31]3 years ago

5 0

Answer: its c!!!!!!!

Step-by-step explanation: