To finance your vehicle purchase you have two choices. Write two equations, one for each bank, that models the banks’ loan options using x for the price of the vehicle and y to represent the total cost (price, interest and origination fees)paid on each loan. Be sure to label which equation goes with which bank.
Bank A: Finance the full price of the vehicle at 5% with an origination fee of $200 paid over 5 years.
Bank B: Finance the full price of the vehicle at 6% paid over 5 years (no additional fees).
