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# Name: ___________________________________________

This or That?

Directions: For each problem, calculate how much both options would have to pay back each month.

1.)
Attending the University of Houston Main Campus Attending the University of California Los Angeles

The bank agrees to give you a loan of \$35,000 The bank agrees to give you a loan of \$48,000
with 2% simple interest over 8 years. How much with 2% simple interest over 9 years. How

2.)
Ferrari 488 Lexus 350

The bank agrees to give you a loan of \$245,000 The bank agrees to give you a loan of \$45,000
with 2% simple interest over 12 years. How much with 2% simple interest over 5 years. How

3.)
High-rise apartment in New York City Mansion in Houston, TX

The bank agrees to give you a loan of The bank agrees to give you a loan of \$900,000
\$1,500,000 with 3% simple interest over 15 with 5% simple interest over 8 years. How much
payments be?

4.)
Opening up a Chick-Fil-A Opening up a Starbucks

The bank agrees to give you a loan of \$35,000 The bank agrees to give you a loan of \$315,000
with 5.5% simple interest over 8 years. How with 1.5% simple interest over 8 years. How
much will your monthly payments be? much will your monthly payments be?
5.)
Vacation in Paris Vacation in Tokyo

The bank agrees to give you a loan of \$9,000 The bank agrees to give you a loan of \$7,000
with 2% simple interest over 3 years. How much with 1% simple interest over 2 years. How much