You take out two loans for school. The first loan is 15,000 dollars with 4% interest per year. The second loan is 20,000 dollars

Question

3 years ago

13

with 2.9% interest per year. Which loan is charging the most interest?

2 answers:

NISA [10] · Answer 1 · 2022-09-11T06:10:52+03:00

NISA [10]3 years ago

6 0

The first loan charges more with $600 . The second loan charges $580.

antoniya [11.8K] · Answer 2 · 2022-09-11T07:42:30+03:00

Answer:

<h2><em>The First Loan Charges More. </em></h2>

Step-by-step explanation:

<u>The First Loan: $600</u>

4%= 0.04

0.04 times 15,000 = 600 + $ = $600

<u>The Second Loan: $580</u>

2.9% = 0.029

0.029 times 20,000 = 580 + $ = $580

580 < 600

<h2>Hope this helped! </h2><h2>(Brainliest Please :3) </h2>

-- Juri Davis