Question
Tim is trying to decide which loan is better. Bank A offerscompounded weekly, while Bank B offers a 10 year loan at a rate of
Tim is trying to decide which loan is better. Bank A offerscompounded weekly, while Bank B offers a 10 year loan at a rate of 5.75% compounded continuously.15 year loan at a rate of 4.5%Tim wants the loan that will result in the lowest total owed. If he is borrowing $4,800, which loanshould he take?
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Precalculus
Authors: Braja M Das, David Cohen, Theodore B Lee, David Sklar
7th Edition
1133386482, 9781133386483
