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Jessica has borrowed $1,000,000 from MQ Bank for one year, if the interest rate is 3.29% p.a. simple interest. It turned that she made a
Jessica has borrowed $1,000,000 from MQ Bank for one year, if the interest rate is 3.29% p.a. simple interest. It turned that she made a mistake and was told by the bank that her interest rate is actually 3.29% p.a. compound half yearly. What is the extra amount that Jessica needs to prepare for the total repayment?
a. 16450.00
b. 33982.41
c. 270.60
d. 0.00
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