MELJE - Mathematics for Everyday Life Unit 3 - Lesson 13
Key Question #13 (continued)
4. Describe the effect on the amount of the payment and the total cost of the loan for
each of the following situations. (6 marks)
a. The interest rate changes to 7.9% from 6.5%.
b. A down payment of $2500 was paid.
c. The length of the loan was increased to 4 years instead of 3 years.
5. Give two advantages and two disadvantages of borrowing. (4 marks)

Anybody get stuck on this question?

-1/2 +2

step-by-step explanation:

all three statements are true

step-by-step explanation:

a shipping fee of 5% is charged online with every item purchased online

first let's just take each option and calculate them based on this, to see if the answers matched

keith buys a 40 dollar book

40 x 0.05 = 2

therefore there will be a two dollar fee on keith's book

40 + 2 =42

the first statement is true

a chair costs $80

80 x 0.05 = 4

80 + 4 = 84

the second statement is true

george buys a 20 dollar calculator

20 x 0.05 = 1

20 + 1 = 21

the third statements are true

all three statements are true

answer: graph 2

step-by-step explanation: