Mathematics, 18.09.2019 16:30 neariah24

Suppose that you borrow $ 16,000 for a new car. you can select one of the following loans, each requiring regular monthly payments:
installment loan a: three-year loan at 5.5%
installment loan b: five- year loan at 6.5%
find the monthly payments and the total interest for both loan a and loan b. compare the monthly payments and the total interest for the two loans.

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Suppose that you borrow $ 16,000 for a new car. you can select one of the following loans, each requ...