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melamori03 [73]
3 years ago
6

A bank has $750,000 to lend for 7 months. It can lend it to a local contractor at a simple interest rate of 12%, or it can lend

it to a small business that will pay 12% compounded monthly. If the bank wants to maximize its interest earned, who should receive the loan (contractor or business) and what is the additional interest earned
Mathematics
1 answer:
Allisa [31]3 years ago
6 0

Answer:

the answer is $7,000

Step-by-step explanation:

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