Mary needs to borrow $11,000. She can borrow the money at

Last updated: 7/13/2022

Mary needs to borrow $11,000. She can borrow the money at 5.5% simple interest for 3 3 yr. (a) How much total interest would Mary pay at 5.5% simple interest? (b) How much total interest would Mary pay at 5% interest compounded continuously? (c) Which option results in less total interest? Part 1 of 3 (a) How much total interest would Mary pay at 5.5% simple interest? At 5.5% simple interest, the total interest Mary would pay is $2733.875 Part: 1/3 Part 2 of 3 X (b) How much total interest would Mary pay at 5% interest compounded continuously? At 5% interest compounded continuously, the total interest Mary would pay is $ or she can borrow at 5% with interest compounded continuously for X S Submit Assignm Acressi