Question

What bank is the best for you to borrow money from if you willing to repay in 5 years?
(a) Wells Fargo with 3.17% compounding continuously.
(b) American Bank with 3.52 % compounding monthly
(c) Navy Army with 3.40% compounding quarterly

Answer 1

Step-by-step explanation:

A friend asks to borrow $300 and agrees to repay it in 30 days with 3% ... You obtain a $1,000 bond that pays 5% interest annually that matures in 5 years. ... We can generalize this idea of simple interest over time.

Now suppose you take out the same loan, with the same terms, but the interest is compounded annually. In the first year, the interest rate of 10% 

If you know you want to join a practice or hospital instead of setting up your own office, look for these opportunities to get extra cash to put toward 

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