Mathematics, 10.03.2021 19:10 babyrocks7300
11. Trey decides to consolidate his debt and
qualities for a personal loan of $10,000 to help
pay off his current credit. He qualities for an
interest rate of 4.29% and is choosing between
a term of 5 or 10 years.
RATE
TERM
MONTHLY PAYMENTS
4.29%
5 years
$185.48
4.29%
10 years
$102.63
Which term will result in the lowest total
repayment, and how much lower will the
repayment be?
A. The 5-year term would be $1,128.80 lower.
B. The 5-year term would be $1,186.80 lower
C. The 10-year term would be $2,315.60 lowe
D. The 10-year term would be $1,186.80 lowe
Answers: 3
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11. Trey decides to consolidate his debt and
qualities for a personal loan of $10,000 to help
...
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