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You have a $15,000 debt from your three-year college program. The interest rate charged is 6.8%. You have three options to pay back the loan. Which option will you take? Show your work In a brief paragraph, justify your decision, including a description of all factors that would affect that decision. (100-200 words)   $450/month for three years $350/month for four years $285/month for five years

You have a $15,000 debt from your three-year college program. The interest rate charged is 6.8%. You have three options to pay back the loan. Which option will you take? Show your work In a brief paragraph, justify your decision, including a description of all factors that would affect that decision. (100-200 words)   $450/month for three years $350/month for four years $285/month for five years

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.7: Simple And Compound Interest
Problem 14E
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  1. You have a $15,000 debt from your three-year college program. The interest rate charged is 6.8%. You have three options to pay back the loan. Which option will you take? Show your work

In a brief paragraph, justify your decision, including a description of all factors that would affect that decision. (100-200 words)

 

  • $450/month for three years
  • $350/month for four years
  • $285/month for five years
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