Mr. Cruz

Mr. Cruz borrowed 21,600 euros for 3 years at 16 2⁄3% compounded annually. While Mr. Santos borrowed the same Amount at Simple Interest for the same period and at the same rate of interest. Who Pays more and how much?

Correct answer:

a =  34300 eur
b =  32400 eur

Step-by-step explanation:

x=21600 eur n=3 p=1632=16+32=316 3+2=35016.6667 %  r=100%+p%=1+100p=1.1666666666667  a=x rn=x 67n=21600 1.16673=34300 eur
r1=p%=100p=0.16666666666667 i=x r1=x 61=21600 0.1667=3600  b=x+n i=21600+3 3600=32400=32400 eur  a>b Δ=ab=3430032400=1900 eur

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Showing 1 comment:
math is so hard

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