![Using and Understanding Mathematics: A Quantitative Reasoning Approach plus NEW MyMathLab with Pearson eText -- Access Card Package (6th Edition) (Bennett Science & Math Titles)](https://www.bartleby.com/isbn_cover_images/9780321923219/9780321923219_largeCoverImage.gif)
Concept explainers
Choose the best answer to the following question. Explain your reasoning with one or more complete sentences.
You need to buy a car and are considering loans from two banks. The loan terms are otherwise identical, but Bank 1 is offering a loan at 7% interest plus an application fee and Bank 2 is at 7.5% interest plus an application fee. Based on this, you can conclude that
a) Bank 1 is the better deal.
b) Bank 2 is probably the better deal, since it probably has a lower application fee.
c) There is no way to tell which deal is better without knowing the application fees.
![Check Mark](/static/check-mark.png)
Want to see the full answer?
Check out a sample textbook solution![Blurred answer](/static/blurred-answer.jpg)
Chapter 1 Solutions
Using and Understanding Mathematics: A Quantitative Reasoning Approach plus NEW MyMathLab with Pearson eText -- Access Card Package (6th Edition) (Bennett Science & Math Titles)
- Discrete Mathematics and Its Applications ( 8th I...MathISBN:9781259676512Author:Kenneth H RosenPublisher:McGraw-Hill EducationMathematics for Elementary Teachers with Activiti...MathISBN:9780134392790Author:Beckmann, SybillaPublisher:PEARSON
- Thinking Mathematically (7th Edition)MathISBN:9780134683713Author:Robert F. BlitzerPublisher:PEARSONDiscrete Mathematics With ApplicationsMathISBN:9781337694193Author:EPP, Susanna S.Publisher:Cengage Learning,Pathways To Math Literacy (looseleaf)MathISBN:9781259985607Author:David Sobecki Professor, Brian A. MercerPublisher:McGraw-Hill Education
![Text book image](https://www.bartleby.com/isbn_cover_images/9781259676512/9781259676512_smallCoverImage.jpg)
![Text book image](https://www.bartleby.com/isbn_cover_images/9780134392790/9780134392790_smallCoverImage.gif)
![Text book image](https://www.bartleby.com/isbn_cover_images/9781938168024/9781938168024_smallCoverImage.jpg)
![Text book image](https://www.bartleby.com/isbn_cover_images/9780134683713/9780134683713_smallCoverImage.gif)
![Text book image](https://www.bartleby.com/isbn_cover_images/9781337694193/9781337694193_smallCoverImage.jpg)
![Text book image](https://www.bartleby.com/isbn_cover_images/9781259985607/9781259985607_smallCoverImage.gif)