3. Which will produce more money as interest
7000 lent for 6 years at 8% p.a. rate or
8000 lent for 5 years at 7% p.a. rate and by
how much?
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Step-by-step explanation:
interest=(amount x rate x time)/100
i= (7000*6*8)/100
i=3360
another i=2800
so 6yr @8% gives more interest
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