Mr. Nielsen wants to borrow $1000 for 2 years. He is given the choice of (a) a simple
Chapter 6, Problem 51(choose chapter or problem)
Mr. Nielsen wants to borrow $1000 for 2 years. He is given the choice of (a) a simple interest loan at 12% or (b) a loan at 10% compounded monthly. Which loan results in less interest due?
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