Money borrow

Ms. Kate wants to borrow € 2,000. The company A will borrow ten installments of 240 euros and the first two months does not pay anything. Company B it their position in 12 installments of € 210. Which company has the more favorable interest rate for Ms. Kate?

Result




Solution:

24010=2400 21012=2520 2400<2520240\cdot 10 = 2400 \ \\ 210\cdot 12 = 2520 \ \\ 2400 < 2520



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