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3 years ago

Raven is considering taking out a 30-year loan with monthly payments of

Mathematics

1 answer:

Anna007 [38]3 years ago

6 0

Answer:

If Raven's monthly payment were $125, the amount of the loan that she is considering taking out would be less than $43,205.56.

Step-by-step explanation:

If you think about it this way it may be more simple. If the APR stays constant then a greater payment will result in a greater loan. The opposite is also true meaning a lesser payment will result in a lesser loan. If the amount Raven pays is greater than $145 then the loan will be greater than $43,205.56. If the amount she pays is less than $145 then the loan will be less than $43,205.56. Of the options, only one of these situations will be present. In my case, the correct option was a payment of $125 will result in a lesser loan than $43,205.56.

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