There are two options for borrowing $5,000 from a bank: Bank A = 3% simple interest for 5 years Bank B = 2.5% simple interest for 6 years Which is a better deal?

They are the same

Bank B

Bank A

Question

8 October, 22:24

+3

Answers (2)

Know the Answer?

Alicia Gentry · Answer 1

BANK A:

5,000*0.03*5=750

BANK B:

5,000*0.025*6=750

They are the same

Amara · Answer 2

the same

Step-by-step explanation:

3*5=15

2.5*6=15

There are two options for borrowing $5,000 from a bank: Bank A = 3% simple interest for 5 years Bank B = 2.5% simple interest for 6 years Which is a better deal?They are the sameBank BBank A