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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

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Answers: 2

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Two 3-year loans were made. I $5,200 at 4% simple interest.
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