Question

FAN+MEDAL
A couple took out a 5-year $30,000 loan to pay for for their wedding. After 5 years, the loan payments they had made to the bank amounted to $38,250.
The interest rate on the loan, compounded continuously, is _____________%. If they had taken an 8-year loan instead of a 5-year loan, they would have paid approximately $_________more.

Answer 1

Blank 1 options: 1.27, 4.9, 10.5, 14

Answer 2

@Directrix @jango_IN_DTOWN @harman.singh

Answer 3

Blank 2 options: 2,062, 5,156, 6,150, 14,400

Answer 4

pls help

Answer 5

@bonnieisflash1.0 @adelyn_helps @Troublekid2 @Xx_BEAST_xX

Answer 6

wait one sec!

Answer 7

kk thank you

Answer 8

@oceangirl

Answer 9

oh, nvm

Answer 10

@magicremix ?

Answer 11

hmmmm

Answer 12

\[38,250-30,000=8,250 \]

Answer 13

so is it a b c or d for blank 1?

Answer 14

not done yet

Answer 15

you know what i seriously have no clue what im doing right now! Sorry

Answer 16

whats ur best guess though?

Answer 17

idk google it