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Could you please solve this with formula. Thank you Tim borrowed $2500 to cover the costs of taking a firefighter course in Texas. His bank

Could you please solve this with formula. Thank you

Tim borrowed $2500 to cover the costs of taking a firefighter course in Texas. His bank offered him a simple interest loan at a rate of 4.7% with a single repayment in 6 months. Another bank offered him a loan that was compounded monthly at an annual rate of 4.2% with a single repayment in 6 months. Which option would cost him the least amount of interest and by how much less

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