Match the option with the lowest monthly payment to highest monthly payment. $12,000 loan with 1% simple 1. lowest payment interest over 7 years $7,500 loan with 4% simple Interest 2. second highest payment over 5 years $8,500 loan with 2% simple 3. third highest payment interest over 6 years $10,000 loan with 3% simple 4. fourth highest payment interest over 4 years
Match the option with the lowest monthly payment to highest monthly payment. $12,000 loan with 1% simple 1. lowest payment interest over 7 years $7,500 loan with 4% simple Interest 2. second highest payment over 5 years $8,500 loan with 2% simple 3. third highest payment interest over 6 years $10,000 loan with 3% simple 4. fourth highest payment interest over 4 years
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:O Odysseyware
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San Felipe Der RIO CISD- IS
JALYN GARCIA
Odysseyware
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Assignment - 1. Credit Scores and Loans
Attempt 1 of 1
ASSIGNMENTS
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SECTION 3 OF 4
QUESTION 6 OF 8
1
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4
5
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Match the option with the lowest monthly payment to highest monthly payment.
$12,000 loan with 1% simple
1.
lowest payment
interest over 7 years
$7,500 loan with 4% simple interest
2. second highest payment
over 5 years
$8,500 loan with 2% simple
3. third highest payment
interest over 6 years
$10,000 loan with 3% simple
4. fourth highest payment
interest over 4 years
9:19 PM
后 ENG
2/4/2021
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R
Expert Solution
Step 1
Simple interest on a loan is the product of principal amount, interest rate and tenure of the loan.
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