Mathematics
Mathematics, 21.01.2020 11:31, markrandsdenn

Miles and nick each separately apply for and receive loans worth $5,000 apiece. miles has a very good credit score, so his loan has an apr of 7.75%, compounded monthly. nick’s credit score is rather low, so his loan has an apr of 13.10% interest, compounded monthly. if both of them repay their loans over a four year period, making equal monthly payments based on their own loan, how much more will nick have paid than miles? (round all dollar values to the nearest cent.)
a.
$619.68
b.
$267.50
c.
$1,609.57
d.
$1,070.00

answer
Answers: 2

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Miles and nick each separately apply for and receive loans worth $5,000 apiece. miles has a very goo...

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