Two 3-year loans were made.
I $5,200 at 4% simple interest.
II $4,000 at 5% compound in...
Mathematics, 17.05.2021 20:50 eross92604
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: 3
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