Mathematics, 03.02.2021 03:50, ValerieRubyPena

Ricky is taking out a personal loan for $12,000 to remodel his kitchen. He would like the lowest monthly payment possible, even if it means a bigger finance charge in the end. His bank has offered him a loan at 13% interest for 60 months, both of which are compounded monthly. Which of the following statements most accurately describes what Ricky should be thinking? A) More payments with the 60 month loan will give him the lowest monthly payment.
B) Fewer payments with the 36 month loan will give him the lowest monthly payment.
C) The 60 month loan comes with a bigger finance charge and, thus, a bigger monthly payment.
D) The 36 month loan comes with a bigger finance charge and, thus, a bigger monthly payment.
Explain why it would be letter A.

Answers: 1

Show answers

Other questions on the subject: Mathematics

Mathematics, 21.06.2019 21:10, sierravick123owr441

Given: lines a and b are parallel and line c is a transversal. prove: 2 is supplementary to 8 what is the missing reason in the proof? statement reason 1. a || b, is a transv 1. given 2. ∠6 ≅ ∠2 2. ? 3. m∠6 = m∠2 3. def. of congruent 4. ∠6 is supp. to ∠8 4. def. of linear pair 5. ∠2 is supp. to ∠8 5. congruent supplements theorem corresponding angles theorem alternate interior angles theorem vertical angles theorem alternate exterior angles theorem

Answers: 3

continue

Mathematics, 22.06.2019 05:30, airrish

Simplify the imporper fraction 31/2

Answers: 2

continue

Mathematics, 22.06.2019 06:00, grangian06

Geometry simularity in right triangles if you need a better pic just ask

Answers: 1

continue

Mathematics, 22.06.2019 06:00, netflixacc0107

The tax rate on harriet walker's 80,000 vacation home is 20 mills. the property is assessed at full value. how much will harriet walker's pay in taxes this year

Answers: 1

continue

Do you know the correct answer?

Ricky is taking out a personal loan for $12,000 to remodel his kitchen. He would like the lowest mon...