Ask Question
6 September, 09:17

Brianna is considering taking out a loan. She estimates that she can afford monthly payments of $195 for 10 years in order to support her loan. She finds that, with an APR of 7.5% compounded monthly, she can take a loan of $16,427.72. Assuming that Brianna's monthly payment and the length of the loan remain fixed, which of these statements is true about the size of the loan Brianna could take if she received a different APR?

+1
Answers (1)
  1. 6 September, 09:56
    0
    If the interest rate were 8.4%, the amount of the loan that brianna is considering taking out would be less than $16,427.72
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Brianna is considering taking out a loan. She estimates that she can afford monthly payments of $195 for 10 years in order to support her ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers