clizethmunoz8497 clizethmunoz8497

08-05-2024
Mathematics

Answered

Use the situation to answer the question. Select TWO that apply.

Jasmine is borrowing $5,200 to purchase her first used car. She can take out a loan from the car dealership for 42 months at an 8% annual simple interest, or she can borrow the money from her bank for 36 months at a 7% annual simple interest rate.

Assuming Jasmine makes equal monthly payments, determine the monthly payment for both the car dealership loan and the bank loan.

Answer :

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