Interest Rate Comparison 1
Sue can either borrow $ 10,\!000 $ dollars for $ 5 $ years with a simple interest of $ 7\% $ annually or an interest which compounds annually for $ 6\% $. How much more money, rounded to the nearest dollar, would she have to pay back for the more expensive interest than the less expensive interest?
- 1
- 2
- 3
- +
- 4
- 5
- 6
- -
- 7
- 8
- 9
- $\frac{a}{b}$
- .
- 0
- =
- %
- $a^n$
- $a^{\circ}$
- $a_n$
- $\sqrt{}$
- $\sqrt[n]{}$
- $\pi$
- $\ln{}$
- $\log$
- $\theta$
- $\sin{}$
- $\cos{}$
- $\tan{}$
- $($
- $)$
- $[$
- $]$
- $\cap$
- $\cup$
- $,$
- $\infty$