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11-04-2024
Mathematics

Answered

Maxine took out a loan for $3200 at 8% interest, compounded annually. If she
makes yearly payments of $250, will she ever pay off the loan?
A. No, because $250 is greater than the amount of interest she is
charged per year.
OB. No, because $250 is less than the amount of interest she is
charged per year.
C. Yes, because $250 is greater than the amount of interest she is
charged per year.
D. Yes, because $250 is less than the amount of interest she is
charged per year.

Answer :

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