The Jackson's are taking out a $35,000 loan to remodel their home. The tables below show the rates for a 1-year and a 5-year loan from two different lenders. complete each table to calculate the total repayment and interest paid for each loan offer.

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Step-by-step explanation:

1

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year term; $3,666.60

term 1 year total repayment : $35,953.20 Interest paid 953.20

term 5 year total repayment $39,619.80 Interest paid 4,619.80

Step-by-step explanation:

a. the residual plot for model 1 has a random pattern and is a good fit for the data.