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Bethany needs to borrow $12,000. She can borrow the money at 6.5% simple interest for 4 yr or she can borrow at 4% with interest compounded continuously for 4 yr. (a) How much total interest would Bethany pay at 6.5% simple interest? (b) How much total interest would Bethany pay at 4% interest compounded continuously? (c) Which option results in less total interest? Part 1 of 3

Bethany needs to borrow $12,000. She can borrow the money at 6.5% simple interest for 4 yr or she can borrow at 4% with interest compounded continuously for 4 yr. (a) How much total interest would Bethany pay at 6.5% simple interest? (b) How much total interest would Bethany pay at 4% interest compounded continuously? (c) Which option results in less total interest? Part 1 of 3

Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Bethany needs to borrow $12,000. She can borrow the money at 6.5% simple interest for 4 yr or she can borrow at 4% with interest compounded continuously for 4 yr. (a) How much total interest would Bethany pay at 6.5% simple interest? (b) How much total interest would Bethany pay at 4% interest compounded continuously? (c) Which option results in less total interest? Part 1 of 3 (a) How much total interest would Bethany pay at 6.5% simple interest? At 6.5% simple interest, the total interest Bethany would pay is $ Part 2 of 3 (b) How much total interest would Bethany pay at 4% interest compounded continuously? At 4% interest compounded continuously, the total interest Bethany would pay is $
Transcribed Image Text:Bethany needs to borrow $12,000. She can borrow the money at 6.5% simple interest for 4 yr or she can borrow at 4% with interest compounded continuously for 4 yr. (a) How much total interest would Bethany pay at 6.5% simple interest? (b) How much total interest would Bethany pay at 4% interest compounded continuously? (c) Which option results in less total interest? Part 1 of 3 (a) How much total interest would Bethany pay at 6.5% simple interest? At 6.5% simple interest, the total interest Bethany would pay is $ Part 2 of 3 (b) How much total interest would Bethany pay at 4% interest compounded continuously? At 4% interest compounded continuously, the total interest Bethany would pay is $
(c) Which option results in less total interest? (Choose one) Vresults in less total interest. 6.5% simple interest for 4 yr 4% interest compounded continuously for 4 yr
Transcribed Image Text:(c) Which option results in less total interest? (Choose one) Vresults in less total interest. 6.5% simple interest for 4 yr 4% interest compounded continuously for 4 yr
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