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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.

Respuesta :

selenasantos2002

Answer:

Step-by-step explanation:

I have this answer too and it's not B or D. So it might be A or C

pstnonsonjoku

To figure out if the figure the bank officer gave you is reasonable, divide the loan amount by 6. This is the minimum you will be paying.

According to the question, the tenure of the loan is six months. The borrower is expected to pay back a fraction of the principal and interest each month. This is the maximum amount that the borrower can pay.

The minimum amount that the borrower can pay each month is obtained by dividing the loan amount by six .

Learn more: https://brainly.com/question/11324711

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