You and your friend are comparing two loan options for a $165,000 house. loan 1 is a 15-year loan with an annual interest rate of 3%. loan 2 is a 30-year loan with an annual interest rate of 4%. your friend claims the total amount repaid over the loan will be less for loan 2. is your friend correct? justify your answer.

No, he is wrong.

Step-by-step explanation:

Since, the total payment of a loan after t years,

Where,

P = present value of the loan,

r = rate per period ,

n = number of periods,

Given,

P = $165,000,

In loan 1 :

r = 3% = 0.03, t = 15 years,

So, the total payment of the loan is,

In loan 2 :

r = 4% = 0.04, t = 30 years,

So, the total payment of the loan is,

Since,

Hence, total amount repaid over the loan will be less for Loan 1.

That is, the friend is wrong.

options a,b,c are the right answer.

step-by-step explanation:

a linear parent function is always represented as y = x

if we write this function in the form of y=mx+c

⇒

or  

now if we plot a graph we will find these characteristics:

1) y intercept of the graph is zero so its a straight line passing through origin.

2) as we can see in both the forms of function written, values of x and y may be either positive or negative for the positive slope means points on the graph are either in first quadrant or in third one.

3) it's slope is one.

hello i am doing good for you that it's summer in your country or state ; )

btw in my country we just have sun and rain as (because i live in the caribbean lol)

also, thx a lot for the points : )