Mathematics, 08.07.2020 14:01 jagmeetcheema
Oli and Katrina are buying a new SUV. The sticker price is $47,500. They talked to their bank (loan A) and were offered a 6 year loan at 4.5% annual interest, resulting in monthly payments of $754.02. The dealership (loan B) claims the couple will pay less interest with them because the loan is shorter, 5 years, and the interest rate is barely higher at 6%, resulting in a monthly payment of $918.31.
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Oli and Katrina are buying a new SUV. The sticker price is $47,500. They talked to their bank (loan...
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