Mathematics, 30.11.2020 08:30 melaniegilbreath
You are negotiating a loan with a bank officer. The loan is at a moderate interest rate, and the term of the loan is six months. The bank officer tells you your monthly payment. Explain how you can quickly check whether or not the figure the bank officer gave you is reasonable. Choose the best answer.
A. Move the decimal point one place to the left. This is a reasonable estimate.
B. Multiply the interest rate by 100 and divide by 6. This should be the approximate amount of the payment.
C. Divide the loan amount by 6. This is the maximum you will be paying.
D. Divide the loan amount by 6. This is the minimum you will be paying.
Answers: 2
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You are negotiating a loan with a bank officer. The loan is at a moderate interest rate, and the ter...
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