Register
Which of the following two loans is the better option? Why? Simple Interest Loan - principal P = $5000; time t = 5 years; interest rate r = 6% Compound Interest Loan - principal P = $5000; time t = 2 1/2
136k views
0 votes
Which of the following two loans is the better option? Why?

Simple Interest Loan - principal P = $5000; time t = 5 years; interest rate r = 6%

Compound Interest Loan - principal P = $5000; time t = 2 1/2 years; interest rate r = 5%

User Ajdin
by
5.0k points

1 Answer

2 votes

Answer: si = 1500 ci =1250

Explanation:

User Toothless Seer
by
5.0k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.7m questions

7.5m answers

Other Questions

Aliyah has $24 to spend on seven pencils. After buying them she had $10. How much did each pencil cost?
Evaluate a + b when a = –16.2 and b = –11.4 A. –27.6 B. –4.8 C. 4.8 D. 27.6
What is the value of x? (-4) - x = 5
Can someone help me with 5??? ASAP?
Solve for h 3h=7(2/7-3/7h)-10
Link Copied!