Mathematics, 25.09.2019 05:00 icario1224

Lee took out a loan for $1900 at 6% interest, compounded annually. if he
makes yearly payments of $220, will he ever pay off the loan?
a. yes, because $220 is greater than the amount of interest he is
charged per year.
b. no, because $220 is less than the amount of interest he is
charged per year.
c. no, because $220 is greater than the amount of interest he is
charged per year.
d. yes, because $220 is less than the amount of interest he is
charged per year.

Answers: 1

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Lee took out a loan for $1900 at 6% interest, compounded annually. if he
makes yearly payments...