Two 3-year loans were made.
I $5,200 at 4% simple interest.
II $4,000 at 5% compound interest...
Mathematics, 09.04.2021 18:40 melanie1759
Two 3-year loans were made.
I $5,200 at 4% simple interest.
II $4,000 at 5% compound interest
Which loan will produce less interest on its account and by how much?
A Loan I, by $6.50
B Loan II, by $49.30
C Loan I, by $18.90
D Loan II, by $24.00
Answers: 2
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