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Mathematics, 02.11.2020 21:40 katswindle11
1 point
Ramon and Stephen are each considering taking out a $1200 loan so they
can buy dirt bikes to enjoy on the weekend. Ramon's bank is offering him a
4.3% interest rate, while Stephen's is offering him a 2.4% interest
rate. Which of the following statements is TRUE. *
If each loan has a term of 3 years, Ramon's monthly payments will be higher
If they both make $300 payments a month, Ramon will pay off his loan faster
Both men would likely get a better interest rate if they used a credit card, rather than a
personal loan, to make their purchases
If Ramon applies to Stephen's bank, instead, for his loan, he's guaranteed to get the
same 2.4% interest rate that Stephen's been offered
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Answers: 3
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