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anonymous
 one year ago
Emma found a 4% interest rate for a $2750 loan for a 3year term. Blake found the same 4% interest rate on a $2750 loan for a 5year term. How much more interest will Blake pay on the $2750 loan with the longer term?
$
anonymous
 one year ago
Emma found a 4% interest rate for a $2750 loan for a 3year term. Blake found the same 4% interest rate on a $2750 loan for a 5year term. How much more interest will Blake pay on the $2750 loan with the longer term? $

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anonymous
 one year ago
Best ResponseYou've already chosen the best response.0this is a growth at a steady rate. This percentage in decimal form is 0.04. Multiply the loan by 0.04 then add the original amount to the product. Do this for each interval.

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0for example,\[2750*0.04=110\] Now we add 110 to 2750 getting 2860 then you do the same for 2860 and so on. There is an easier way to do this but I am unsure what it is.

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0so how many times do i do that?

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0you do it once per interval, so for Blake, 5 times, and Emma 3. After you get the totals, its quite obvious what to do. Find the Difference of the two.

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0okay then :) can you hold on and then check my final answer?

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0for the first on  blake the answer is 4308.33216, am i right?

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0Hmmm.... It looks like one of us Did our math wrong. I got 3345.80 be sure to multiply by 0.04 and not 0.4. I must go for now but i WILL help upon return if someone else hasn't. Be back soon!

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0( I roundeed the decimal by the way)

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0i did do that wrong (the 0.04) and thanks for the help! ^^

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0not a problem! did you get 251.85?
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