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24 June, 14:31

Mr. Stripling needs to take out a loan of $20,000 to be able to pay for his

Graduate courses. He can borrow from two different banks. The first

bank is Union Hill Bank, which offers him 7% interest for 3 years. The

other bank is called Emerson Bank, which offers him 5% interest for 4

years. Which bank should Mr. Stripling borrow the money from to

complete his Graduate courses? Justify your answer.

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Answers (1)
  1. 24 June, 16:18
    0
    3428.57

    Step-by-step explanation:

    20,000/7=

    2857.14

    20,000/5=

    4,000

    2857+4,000=

    6857.14/2=

    3428.57
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