Mathematics, 04.02.2021 20:50 thebigman7993

Ben is a college student who needs to spend $600 on books. His bank offers a loan for students purchasing books, which has a monthly simple interest rate of
two percent which needs to be fully paid back in six months. How much would
Ben pay in total for his books once he repaid the loan?
Ben's other option is to buy the books using his credit card, which has an annual
simple interest rate of 15 percent and if he only paid the minimum on his card
would take five years to repay. How much would Ben pay in total for his books if
he chose this option?

Answers: 2

Show answers

Other questions on the subject: Mathematics

Mathematics, 21.06.2019 12:30, ulilliareinhart2

What is the approximate total length of iron edging needed to create the square frame and the two diagonals?

Answers: 3

continue

Mathematics, 21.06.2019 16:00, ebell1703

Use set builder notation to represent the following set: { -3, -2, -1, 0}

Answers: 1

continue

Mathematics, 21.06.2019 19:30, dbenjamintheflash5

You have 17 cats that live in houses on your street, 24 dogs, 3 fish, and 4 hamsters. what percent of animals on your block are dogs?

Answers: 2

continue

Mathematics, 21.06.2019 22:30, BigGirlsTheBest

At the beginning of year 1, carlos invests $600 at an annual compound interest rate of 4%. he makes no deposits to or withdrawals from the account. which explicit formula can be used to find the account's balance at the beginning of year 5? what is, the balance?

Answers: 1

continue

You know the right answer?

Ben is a college student who needs to spend $600 on books. His bank offers a loan for students purc...