Mathematics, 28.01.2021 20:00 Geo777
1. Rachel borrowed $1000. The interest rate for her loan is 8%. What is the difference in the interest she’ll pay if she pays it back in 2 years or 3 years?
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1. Would it be better to have a loan with 5% interest, paid back in 2
years, OR a loan with 2% interest paid, back in 5 years? Explain.
Show work to justify your answer.
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Answers: 3
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1. Rachel borrowed $1000. The interest rate for her loan is 8%. What is the difference in the intere...
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