Jennifer is taking out a loan of $180,000 to buy a
house. True America Bank offered her two
...
Mathematics, 24.04.2021 01:20 aupein
Jennifer is taking out a loan of $180,000 to buy a
house. True America Bank offered her two
different plans.
Option 1: 15-year loan at a 3% compound
interest.
Option 2: 30-year loan at 4% simple interest.
Jennifer wants to make sure she pays no more
than $100,000 in interest over the life of the
loan. Which option should she choose?
M
Answers: 1
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