# Algebra : Algebra 1

Running head: ALGEBRA DISCUSSIONAlgebra DiscussionStudents

NameInstitutional Affiliation1ALGEBRA DISCUSSION2Algebra Discussion

=principa rate time100 =$1300 79.9 1100 = 1038.7Total cost= + =

$1300+ $1038.7= $2338.7 =principa rate time100 =$1300 0.5

1100=6.5=1300 + 6.5= 1306.5ALGEBRA DISCUSSION3In the first scenario

we are dealing with annual percentage rate whereas the

secondscenario is the simple interest. Both are a percentage of the

principal one borrows as well as theamount of the money that is to

be paid to the lender on top of the borrowed amount. However,APR is

normally higher than interest rate because the APR shows the total

cost of borrowingmoney. Interest rate shows only the base cost of

borrowing money (Nakov, 2005). A s …