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:
f(5) = 8
Step-by-step explanation:
3(5)-7
15-7
8
Answer:
19: The difference between the temperature in Fair Banks and Barlow is 3°F
20: -13°F, -10°F, 15°F, 24°F.
Step-by-step explanation:
I'm assuming that by "compare", it means to find the difference between temperatures in question 19. If it means something else, let me know and I'll try and help you find it.
