Kay has decided to take out a $23,100 loan, and she wants to pay it back in quarterly installments. she has narrowed her options down to two banks. bank v offers a six-year loan with an interest rate of 4.6%, compounded quarterly, and has a service charge of $822.45. bank w offers an eight-year loan with an interest rate of 3.9%, compounded quarterly, and a service charge of $722.25. which loan will have the greater total finance charge, and how much greater will it be? round all dollar values to the nearest cent. a. loan w's finance charge will be $335.96 greater than loan v's. b. loan w's finance charge will be $436.16 greater than loan v's. c. loan v's finance charge will be $263.10 greater than loan w's. d. loan v's finance charge will be $100.20 greater than loan w's. this question is worth 20 points.

Using Present Value ordinary annuity formula for this question.

PVoa = PMT [(1 - (1 / (1 + i)^n)) / i]

The principle amount is $23100

Where i = rate and rate is to be divided by 4 to get quarterly installments.

n = years * 4 for quarterly compounding

For bank V: 23,100 = PMT[(1 - (1 / 1.0115^24)) / 0.0115]  

PMT = 1106.92*24 = $26566.08 + 822.45 = $27,388.53

This amount minus principal 27,388.53- 23,100 = $4,288.53

For bank W: 23,100 = PMT[(1 - (1 / 1.00975^32)) / 0.00975]  

PMT = 843.82*32 = $27002.24 + 722.25 = $27724.49

27724.49 -23,100 = $4,624.49

W - V = $335.96

Hence, option A is the right answer. Loan W's finance charge will be $335.96 greater than Loan V's.

Loan W's finance charge will be $335.96 greater than Loan V's.

Step-by-step explanation:

point a is the center of the circle that passes through points e, f, and g and the center of the circle that passes through points x, y, and z.

answer: 88

step-by-step explanation: