Question

Medal + Fan for helping me!!

Answer 1

Joy has been saving her earnings to make a down payment on a new car. Which loan terms will result in highest total cost for the loan?

A. 2.5 percent loan for 24 months

B. 3.5 percent loan for 36 months

C. 4.5 percent loan for 48 months

D. 5.5 percent loan for 60 months

Answer 2

5.5 percent loan for 60 months

Answer 3

@RealityWillSlapYou

Answer 4

Thank you @Pandabear78963!!

Answer 5

Okay. This is what I would do. For A. 2.5 percent loan for 24 months. 2.5 / 24 = 0.1041666, so A is a 0.1041666 percent loan er month. Now B, which is a 3.5 percent loan for 36 months. I do the same thing. 3.5 / 36. This would be 0.0972222, which is less than A, so that would mean B is not the highest, so keep A and forget about B. Now for C. 4.5 / 48 = 0.09375. That is also less than A, so so far it seems that A is winning the compeitition. Now for D. 5.5 / 60 = 0.0916666 per month. This is less than A too, so the answer is A.

The answer is A. 2.5 percent loan for 24 months.

Answer 6

@RealityWillSlapYou

Answer 7

@kewlgeek555, This is really legit so, thank you for your help!! :D

Answer 8

@Pandabear78963, Sorry, but it looks like @kewlgeek555 is correct on this one. I'll still be your fan, but the medal now goes to @kewlgeek555.

Answer 9

It was a pleasure learning with you @RealityWillSlapYou ! :]

Answer 10

Darn it

Answer 11

i tried sorry@RealityWillSlapYou

Answer 12

Just took this quiz, and the answer was D. For future reference, lol.