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makvit [3.9K]
1 year ago
8

Jocelyn is considering taking out one of the two following loans. Loan H is a three-year loan with a principal of $5,650 and an

interest rate of 12.24%, compounded monthly. Loan I is a four-year loan with a principal of $6,830 and an interest rate of 10.97%, compounded monthly. Which loan will have the smaller monthly payment, and how much smaller will it be? Round all dollar values to the nearest cent.
Mathematics
2 answers:
Alexus [3.1K]1 year ago
7 0
<span>c.<span>Loan I's monthly payment will be $11.88 smaller than Loan H's.</span></span>
tino4ka555 [31]1 year ago
5 0

Answer: its c!!!!!!!

Step-by-step explanation:

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