Melissa wants to check the accuracy of the finance charge on her promissory

note. she has a $6,000, 4-year loan at an apr of 3.11%. round to the nearest cent.

a. what is her monthly payment?

b. what is the total of all her monthly payments?

c. what is the finance charge?

a

n ..mahoninto lend to 350% of the value of

A

Step-by-step explanation:

Idek.

i believe the answer is letter c) 8

step-by-step explanation:

answer: c, the green line

step-by-step explanation:

there is no black line, eliminate b.

simple interest implies periodic payments, but the red line shows no payments, eliminate d.

simple interest has equal payments. if paid say every day, the graph is about a straight line (actually a stairstep).

the yellow line is not straight, eliminate a.

check: the green line is straight, answer is c.

simple interest with positive interest rate gives a straight line sloping up to the right. green line:

g(t) = $100 + ($200-$100) ÷ (20 years) × (t years)

= $100 + (4%/year) × ($100)(t years)

incidentally, the yellow line curving upward represents continuously compounded interest

y = $100 × 2^(t years / (14 assuming the yellow line hits $200 at 14 years. 2^0 is 1, so y(0) = $100; 2^(14/14) is 2, so y(14) = $200.