PLEASE HELP ASAP 20 POINTS THIS IS AN ALGEBRA 2 QUESTION PLEASE ONLY HELP IF SERIOUS
2 answers:
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Solution:
As per the problem
Maxine took out a loan for $3200 at 8% interest, compounded annually.
she makes yearly payments of $250.
she will be able to Payoff her loan iff yearly payments made is greater than yearly interest.
Interest payable in first year
Interest payable in first year
This payable interest will goes on increasing year on year.
Hence Maxine will never payoff the loan.