Mathematics, 21.10.2020 19:01 brsglover8355

Two customers took out bank loans. • Carl took out a 3-year loan for $20,000 and paid 5.00% interest compounded annually
• Steven took out a 5-year loan for $20,000 and paid 3.00% interest compounded annually
What is the difference between the amounts of interest Carl and Steve paid for their loans?
A)
$32.98
B)
$40.09
$52.91
D)
$86.94

Answers: 3

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Two customers took out bank loans. • Carl took out a 3-year loan for $20,000 and paid 5.00% interes...

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