11. A couple needs to get a loan of $5,000 and has to choose between three options.
- Option A...
Mathematics, 15.04.2020 04:01 brianamelara
11. A couple needs to get a loan of $5,000 and has to choose between three options.
- Option A: 3.25% compounded quarterly
Option B: 3.5% compounded every 4 months
Option C: 3.75% compounded semi-annually
If they make no payments for 5 years, which option will give them the least amount owed after 5
years? Use a mathematical model for each option to explain your choice.
Answers: 3
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