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# Mr. Nielsen wants to borrow \$1000 for 2 years. He is given the choice of (a) a simple ISBN: 9780470876398 408

## Solution for problem 51 Chapter 6.2

Finite Mathematics, Binder Ready Version: An Applied Approach | 11th Edition

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Problem 51

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?

Step-by-Step Solution:
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Step 2 of 3

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##### ISBN: 9780470876398

This textbook survival guide was created for the textbook: Finite Mathematics, Binder Ready Version: An Applied Approach, edition: 11. Since the solution to 51 from 6.2 chapter was answered, more than 219 students have viewed the full step-by-step answer. The full step-by-step solution to problem: 51 from chapter: 6.2 was answered by , our top Math solution expert on 03/14/18, 05:05PM. The answer to “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?” is broken down into a number of easy to follow steps, and 37 words. This full solution covers the following key subjects: . This expansive textbook survival guide covers 63 chapters, and 2952 solutions. Finite Mathematics, Binder Ready Version: An Applied Approach was written by and is associated to the ISBN: 9780470876398.

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