Serena wants to borrow $15000 and pay it back in 10 years. the bank gives her 2 options
1: bo...
Mathematics, 14.12.2019 07:31 drippyc334
Serena wants to borrow $15000 and pay it back in 10 years. the bank gives her 2 options
1: borrow the money at 10% compounded quarterly for the full term
option 2: borrow the money at 12%compounded quarterly for 5 years and after 5 years that interest rate will be 6% compounded quarterly how much will serena save by choosing the second option?
Answers: 1
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