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Jovani needs to borrow $ 9 , 3 0 0 for 3 years. Cornwell Heights National Bank offers him the loan at 7 . 2
Jovani needs to borrow $ for years. Cornwell Heights National Bank offers him the loan at compounded daily, and Andalusia National Bank offers him the loan at compounded monthly. a How much would he need to pay back at each bank? He would need to payback Cornwell Heights $ He would need to payback Andalusia $ b Which bank is offering the better deal?
Jovani needs to borrow $ for years. Cornwell Heights National Bank offers him the loan at compounded daily, and Andalusia National Bank offers him the loan at compounded monthly.
a How much would he need to pay back at each bank?
He would need to payback Cornwell Heights $
He would need to payback Andalusia $
b Which bank is offering the better deal?
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