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Mademuasel [1]
3 years ago
8

Bill Baxter has $23,000 to invest for a year. He can lend it to his sister who has agreed to pay 10% simple interest for the yea

r. Or, he can invest it with a bank at 8%
compounded quarterly for the year. How much additional interest would the simple interest loan to his sister generate? Find the effective interest rate for both
investments.
Mathematics
1 answer:
DiKsa [7]3 years ago
3 0

Answer:

23

Step-by-step explanation:

i don't know if it is correct, it is just my guess

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