Question

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 ?

Answer 1

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:

Answer 2

Answer: If it were a 10 year loan

Explanation:

Ape x