Mathematics, 16.12.2019 20:31, lm18618

Jade is considering taking out a 14-year loan with monthly payments of $195
at an apr of 2.9%, compounded monthly, and this equates to a loan of
$26,898.98. assuming that jade's monthly payment and the length of the
loan remain fixed, which of these is a correct statement?
a. if the interest rate were 2.7%, the amount of the loan that jade is
considering would be more than $26,898.98.
o
b. if the interest rate were 2.5%, the amount of the loan that jade is
considering would be less than $26,898.98.
o
c. if the interest rate were 3.1%, the amount of the loan that jade is
considering would be more than $26,898.98.
d. if the interest rate were 2.3%, the amount of the loan that jade is
considering would be less than $26,898.98.

Answers: 2

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Jade is considering taking out a 14-year loan with monthly payments of $195
at an apr of 2.9%,...