Business, 18.02.2020 01:52, izzy488

Francis is competing with his brother Benedict to see who can pay off a loan faster. They both borrow $2,000 at an interest rate of 6%. Francis will start paying back his loan today making annual payments of $100. Benedict starts making payments 4 years from now and pays $150 per year. Who pays off their loan sooner?

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Francis is competing with his brother Benedict to see who can pay off a loan faster. They both borro...