Mathematics, 04.03.2020 02:24 trekey36

Sarah takes out a loan for $30,000. She has two choices for the loan; a 5 year loan with 5% simple interest or a 7 year loan with 4% compound interest. What is the difference in the amount of interest she would owe?

Question 5 options:

$1,189.50

$31,977.95

$1,977.95

$900

Answers: 3

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More questions: Mathematics Another questions

Sarah takes out a loan for $30,000. She has two choices for the loan; a 5 year loan with 5% simple interest or a 7 year loan with 4% compound interest. What is the difference in the amount of interest she would owe? Question 5 options: $1,189.50 $31,977.95 $1,977.95 $900

Answers

Another question on Mathematics

Sarah takes out a loan for $30,000. She has two choices for the loan; a 5 year loan with 5% simple interest or a 7 year loan with 4% compound interest. What is the difference in the amount of interest she would owe?

Question 5 options:

$1,189.50

$31,977.95

$1,977.95

$900