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

Question

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] · Answer 1 · 2022-11-17T06:17:03+03:00

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