a) How much total interest would Bethany pay at

b) How much total interest would Bethany pay at

c) Which option results in less total interest?

Reeves
2021-05-11
Answered

Bethany needs to borrow $\$10,000.$ She can borrow the money at $5.5\mathrm{\%}$ simple interest for 4 yr or she can borrow at $5\mathrm{\%}$ with interest compounded continuously for 4 yr.

a) How much total interest would Bethany pay at$5.5\mathrm{\%}$ simple interest?

b) How much total interest would Bethany pay at$5$ interest compounded continuously?

c) Which option results in less total interest?

a) How much total interest would Bethany pay at

b) How much total interest would Bethany pay at

c) Which option results in less total interest?

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