Mathematics, 04.03.2020 02:28 fonsworth5

Sarah takes out a loan for $30,000. She has two choices for the loan; a 5 year loan with 5% simple interest or a 7 year loan with 4% compound interest. What is the difference in the amount of interest she would owe?

Question 5 options:

$1,189.50

$31,977.95

$1,977.95

$900

Answers: 2

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Sarah takes out a loan for $30,000. She has two choices for the loan; a 5 year loan with 5% simple i...