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Mathematics, 14.05.2021 22:20 nofer

Orlando wants to borrow $3,000 for the purchase of a used car. He has to pay back the loan after 4 years. The two loan options are simple interest at a rate of 5.8% each year, or interest compounded annually at a rate of 5.2% each year . Which method should he choose , simple or compound , and how much less will he owe using that method?

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Orlando wants to borrow $3,000 for the purchase of a used car. He has to pay back the loan after 4 y...

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