Question

Determine Rolanda’s best loan option in the following scenario using the exponential growth equation.
Situation: Rolanda is buying a $15,000 car and is trying to figure out which is the better financing option. She can get a five-year loan at 4.65 percent or a seven-year loan at 4.25 percent.

Answer 1

Answer:

5 year

Step-by-step explanation:

equations are 15000(.9535)^5 for the 5 year at 4.65

                   

                  15000(.9575)^7  for the 7 year at 4.25