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Answered

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You take out two loans for school. The first loan is 15,000 dollars with 4% interest per year. The second loan is 20,000 dollars with 2.9% interest per year. Which loan is charging the most interest?

Sagot :

The first loan charges more with $600 . The second loan charges $580.
juridavis11

Answer:

The First Loan Charges More.

Step-by-step explanation:

The First Loan: $600

4%= 0.04

0.04 times 15,000 = 600 + $ = $600

The Second Loan: $580

2.9% = 0.029

0.029 times 20,000 = 580 + $ = $580

580 < 600

Hope this helped!

(Brainliest Please :3)

-- Juri Davis

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