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
Answer:
x= (h-12y-2)/4
Step-by-step explanation:
First expand the brackets so its 4x+12y+2=h
Then subtract 12y and 2 from both sides
This maxes 4x=h-12y-2
then divide by 4
so its x= (h-12y-2)/4
(you can simplify if you want you dont need to)
The answer is A 3.2 because 160 divided by 25 is 6.4 and then divide that by two again is 3.2
Hope this helps :)
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