angelrubanz
angelrubanz angelrubanz
  • 02-04-2018
  • Mathematics
contestada

If you take out a $1,500 loan for college at 8% interest, what is the principal balance?


$1620


$1500


$1508


$1580

Respuesta :

angeladagirl
angeladagirl angeladagirl
  • 03-04-2018
After 1 year, your college loan balance would be 1500 (1+.08) = 1620 if you make no payments.


Likely Lana would pay less interest on the loan as she has a HIGHER credit score!
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