co.op
interest = principle * rate * time in years
8000*0.09*1= 720$
total owed =
principle + interest
8000+720= 8720$
bank
interest = principle * rate * time in years
interest = principle * rate * time in years8000*0.06*1= 480$
principle + interest
8000+480= 8480$
......
6)
Bank A
interest = 1500*2*0.18= 540$
total owed = 1500+540= 2040$
Bank B
compound interest =
1500(1+0.12)^2
compound interest= 1881.6
total owed = 1500+1881.6= 3381.6$
she should choose Bank A less total owed
she'll have to pay the bank 2040$
