Mathematics, 24.03.2020 12:29 ryansingl19
Joe is considering taking out along with the principal of $15,500 From one of two banks. Bank A charges and interest rate of 6%, compounded monthly, and requires at the loan be paid off in eight years. Bank B charged as an interest rate of 6.5%, compounded monthly, and requires that the loan be paid off in seven years. What are the benefits for each banks offer in terms of payment amounts and/or amounts paid?
Bank A
Bank B
Please answer step by step as thoroughly as you can. I would greatly appreciated it.
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Joe is considering taking out along with the principal of $15,500 From one of two banks. Bank A char...
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