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Mathematics, 05.09.2020 22:01 queenkimm26

Part I. Loan A has a principal of $10,000, a term of two years, and an interest rate of 6%.
Loan B has a principal of $10,000, a term of two years, and an interest rate of 3%.

Which of the following is true?
a. Monthly payments for Loan A are twice as much as monthly payments for Loan B.
b. Monthly payments for Loan A are less than twice as much as monthly payments for Loan B.
c. Monthly payments for Loan A are more than twice as much as monthly payments for Loan B.

How do you know your answer is correct?

Part II.
Loan A has a principal of $10,000, a term of two years, and an interest rate of 6%.
Create an Amortization Schedule for the entire two-year life of this loan.

Part I.

Loan A has a principal of $10,000, a term of two years, and an interest rate of 6%.
Loan

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Part I. Loan A has a principal of $10,000, a term of two years, and an interest rate of 6%.
L...

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