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Lily is considering taking out a 6-year loan with monthly payments of $225 at an APR of 1.7% , compounded monthly, and this equates to a loan of $15,390.84. Assuming that Lily's monthly payment and the
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Lily is considering taking out a 6-year loan with monthly payments of $225 at an APR of 1.7% , compounded monthly, and this equates to a loan of $15,390.84. Assuming that Lily's monthly payment and the APR of the loan remain fixed , which of these is a correct statement ?

User Nxtwrld
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2 Answers

4 votes

Answer:If it were a 10-year loan, the amount of the loan that Lily is considering taking out would be more than $15,390.84

Explanation:

User Domenick
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3 votes

Answer: If it were a 10 year loan

Explanation:

Ape x

User Leon Nicholls
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