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Mathematics, 11.12.2019 01:31 danielahchf

Hailey is considering taking out an 8-year loan with monthly payments of
$125 at an apr of 4.7%, compounded monthly, and this equates to a loan of
$9985.95. assuming that hailey's monthly payment and the apr of the loan
remain fixed, which of these is a correct statement?

a. if it were a 6-year loan, the amount of the loan that hailey isconsidering taking out would be more than $9985.95.

b. if it were a 10-year loan, the amount of the loan that hailey isconsidering taking out would be more than $9985.95.

c. if it were a 12-year loan, the amount of the loan that hailey is considering taking out would be less than $9985.95.

d. if it were a 14-year loan, the amount of the loan that hailey is considering taking out would be less than $9985.95.

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Answers: 3

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Hailey is considering taking out an 8-year loan with monthly payments of
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