randlejuquan1 randlejuquan1

Today at 11:38 AM
Mathematics

Answered

Ashley is taking out a loan in the amount of $12,000. Her choices for the loan are a 4-year loan at 7.00% annual simple interest and a 5-year loan at 8.00% annual simple interest. What is the difference in the amount of interest Ashley would have to pay for these two loans?

Answer :

musiclover10045 musiclover10045

Today at 11:43 AM

Simple interest formula: A= P(1+Ryan)

A = 12000(1+ 0.07x4) = 15,360.00

Amount of interest = 15360-12000= 3,360.00

A= 12000(1+0.08x5) = 16,800.00

Interest = 16,800-12,000 = 4,800.00

Difference in interest = 4800 - 3360 = $1,440.00

Answer Link

AileenMedrano AileenMedrano

Today at 11:42 AM

Answer:

1440

Step-by-step explanation:

Answer Link

Other Questions

a given cache has 1kb of (data) storage. each entry of the cache is an 8-byte line. assuming 64-bit addresses, fill in the blanks below: this cache will have bi

image by hugo gamboa which of the following activities would a person most likely be performing when displaying this eeg pattern? a. doing some light reading on

certain balance sheet accounts of a foreign subsidiary of orchid company have been stated in u.s. dollars as follows: stated at current rates historical rates a

image by hugo gamboa which of the following activities would a person most likely be performing when displaying this eeg pattern? a. doing some light reading on

A car travels 1/6 of the distance between two cities in 3/5 of an hour. At this rate, what fraction of the distance between the two cities can the car travel in

Why didn't he take the coins' advice? Give two or three reasons.

What is Newton s third law of motion

The present age of the father is twice the present age of his son. 8 years later their ages will be in ratio 7:4.find the present age of his son

Why are the study of the origin and the growth of Sociology important?

what is the correct option?

for decades, the national rifle association (nra) has worked closely with members of congress to successfully curtail the capacity of the bureau of alcohol, tob

scientists discovered bacteria inside one of the returned pieces of Surveyor 3 What are some possible explanations for this surprising discovery

which of the following are true statements about the structure of a carbon-centered free radical? the free radical . (select all that apply.)

if the market doesn't look so great, but we are awesome in creating products of this sort, the key question is whether we can develop a market. which of the fol

HELP NOW!!!! Given the following conditional statement: If m∠F = 90° and m∠G = 70°, then ∠F and ∠G are not supplementary. Part A: How is proof by contradiction

The number of swans in London's Hyde Park was decreasing at a rate of 8 per 100 swans in 2008. By 2010 the decrease was at a rate of 4 per 100 swans. If the rat

The coordinates of triangle ABC are A [-6/1/2, -3/1/2] , B[ -6/1/2, -1] and C [ 5,-1] How do i solve this bro garbo web site

The probability of an event is given. Find the odds in favor of the event. 0.4

please provide me with numerical values in internees of other variables explain you steps in details thanks in advance

What are some large-scale economic shifts that have created our present service economy