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Lynna [10]
3 years ago
9

Sophia wants to take out a loan of $6,000 with interest that compounds monthly. Use the formula A = P(1 + rn)n∗t to find which o

f these loan terms will have the lowest total cost. A) 2 years at 4% interest B) 3 years at 3% interest C) 4 years at 1% interest D) 5 years at 2% interest
Mathematics
1 answer:
Naddika [18.5K]3 years ago
4 0

Answer:

d

Step-by-step explanation:

FV = P (1 + r/m)^mn

FV = Future value  

P = Present value  

R = interest rate  

N = number of years

m = number of compounding

a. 6000x (1 + 0.04/12)^24 = 6498.86

b. . 6000x (1 + 0.03/12)^36 =6564.31

c. . 6000x (1 + 0.01/12)^48 = 6244.76

d. . 6000x (1 + 0.05/12)^60 =6630.47

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Which expression shows a sum of three terms.
vladimir1956 [14]

Answer:  B) 3+y+3

This can be simplified to y+6, but the current un-simplified expression has 3 terms.

======================================

Explanation:

Terms are separated by a plus sign. If you had something like 10x-5y, then you would write that as 10x+(-5y) showing that 10x and -5y are the two terms.

Choices A and C, xy and 6y respectively, have one term each. They are considered monomials. Mono = one, nomial = name.

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