Question:
Tim is trying to decide which loan is better. Bank A offers
Last updated: 7/15/2022
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Tim is trying to decide which loan is better. Bank A offers compounded weekly, while Bank B offers a 10 year loan at a rate of 5.75% compounded continuously. 15 year loan at a rate of 4.5% Tim wants the loan that will result in the lowest total owed. If he is borrowing $4,800, which loan should he take?