Business, 05.07.2021 20:10 ydesoto0513
Bethany needs to borrow $10,000. She can borrow the money at 6% simple interest for 5 yr or she can borrow at 5% with interest compounded continuously for 5 yr.
a. How much total interest would Bethany pay at 6% simple interest?
b. How much total interest would Bethany pay at 5% interest compounded continuously?
c. Which option results in less total interest?
Answers: 1
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Bethany needs to borrow $10,000. She can borrow the money at 6% simple interest for 5 yr or she can...
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