Question

⚠️Plzzz help mee⚠️

Michaela needs to borrow $4,500 to buy appliances and has to pay back the loan after 2 years. The loan amount adds simple interest at a rate of 6.5% per year or adds annual compound interest a t a rate of 6.1% per year. Which method should she choose, simple or compound, and how much less will she owe using that method?

Answer 1

A few years ago, Michael Tucker purchased a home for $100,000. ... Louise's debt payments to income ratio is 370 to 1,360, or 27.2 percent. ... The loan she needs for chiropractic school will cost an additional $120 per ... Dave borrowed $500 for one year and paid $50 in interest. ... Calculating Simple Interest on a Loan.

Explanation: