Mathematics, 22.05.2020 08:04 8545548
Now that she has a new job, Maria is looking to replace her old clunker with a new car. After her trade-in and downpayment, Maria still needs a $20,000 loan to finance the car. She is weighing a 36-month loan schedule at 6% ($608 payment) vs. a 60-month loan schedule at 6% ($387 payment). Write an algebraic equation for each loan, with x representing the number of months the payments have been made, and y representing the remaining balance. At 3 years, when one loan has been paid off, what will be the remaining balance on the 5-year loan? How much more interest will she pay in total if she opts for the longer term loan?
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WILL MARK BRAINLIEST
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Now that she has a new job, Maria is looking to replace her old clunker with a new car. After her tr...
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