Part I.
Loan A has a principal of $10,000, a term of two years, and an interest rate of 6%.
L...
Mathematics, 05.09.2020 22:01 queenkimm26
Part I.
Loan A has a principal of $10,000, a term of two years, and an interest rate of 6%.
Loan B has a principal of $10,000, a term of two years, and an interest rate of 3%.
Which of the following is true?
a. Monthly payments for Loan A are twice as much as monthly payments for Loan B.
b. Monthly payments for Loan A are less than twice as much as monthly payments for Loan B.
c. Monthly payments for Loan A are more than twice as much as monthly payments for Loan B.
How do you know your answer is correct?
Part II.
Loan A has a principal of $10,000, a term of two years, and an interest rate of 6%.
Create an Amortization Schedule for the entire two-year life of this loan.
Answers: 2
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