Concept explainers
To find what would be more beneficial from the two given cases.
Answer to Problem 45HP
The lower interest rate gives better deal than lower term of years.
Explanation of Solution
Given:
A
The first case: If the term is reduced to
The second case: If the interest-rate is reduced to
Calculation:
Consider the case of a
Let an amount of
The amount obtained after
If the term is reduced to
If the interest-rate is reduced to
Hence lower interest rate gives better deal than lower term of years.
Chapter 7 Solutions
Glencoe Algebra 2 Student Edition C2014
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