# Mr. Dawson was given three loan options by his bank in order to purchase a plot of land. The functions below model the cost of the plot of land after x years.

Mr. Dawson plans to finance the loan of his choice for 30 years. The least affordable loan option for Mr. Dawson is option

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saadhussain514Mr. Dawson plans to finance the loan of his choice for 30 years. In order to find the least affordable loan option for Mr. Dawson, we will have to substitute x = 30 in each of the given equations and the best option would have the lowest answer. Option A: f(x) = 8000 (1 + 0.15/12) ¹²ˣ Susbstituting x = 30. f(30) = 8000 (1 + 0.15/12)³⁶⁰ f(30) = 8000 (1 + 0.15/12)³⁶⁰ f(30) = 8000 × 87.54 f(30) = 700,327.96 Option B: g(x) = 700 x + 8000 Susbstituting x = 30. g(x) = 700 (30) + 8000 g(x) = 21000 + 8000 g(x) = 29,000 Option C: h(x) = x² + 400x + 8000 Susbstituting x = 30. h(x) = 30² + 400(30) + 8000 h(x) = 900 + 12000 + 8000 h(x) = 20,900 The least affordable loan option for Mr. Dawson is option C.