Miles and nick each separately apply for and receive loans worth $5,000 apiece. miles has a very good credit score, so his loan has an apr of 7.75%, compounded monthly. nick's credit score is rather low, so his loan has an apr of 13.10% interest, compounded monthly. if both of them repay their loans over a four year period, making equal monthly payments based on their own loan, how much more will nick have paid than miles? (round all dollar values to the nearest cent.) a. $619.68 b. $267.50 c. $1,609.57 d. $1,070.00

this was already solved by me with a different person. if you look it up in the search bar at the top of the page, you will get the answer.

step-by-step explanation:

this is a direct variation proportion. y = kx

y is the total amount due, k is the constant of variation, and x is the number of texts sent.

plug in the 3.20 and the 16 to solve for the "k". this is the constant of proportionality. it is the value that will not change.

3.20 = k(16). solving you get $.20 per text.

the equation would then be y = .20x

320ft

step-by-step explanation:

120 divided by 3 equals 40

40 times 4=160

160 times 2=320