Mathematics, 05.05.2020 08:10, prettygirllniyiaa
Michelle wants to borrow $4,500. Bank A will lend Michelle the money at a simple annual interest rate of 9% for 6 years. Bank B will lend her the money at 11% for 4 years. Which bank would charge Michelle the least amount of interest? Explain.
Michelle needs to calculate the interest for the length of each loan. Bank A will charge $2430 in interest and Bank B will charge $1980 in interest. She will save by borrowing from Bank B.
Answers: 1
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Michelle wants to borrow $4,500. Bank A will lend Michelle the money at a simple annual interest rat...
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