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A bank has $800,000 to lend for 6 months. It can lend it to a local contractor at a simple interest rate of 12%, or it c
Posted: Tue Nov 16, 2021 9:09 am
by answerhappygod
- A Bank Has 800 000 To Lend For 6 Months It Can Lend It To A Local Contractor At A Simple Interest Rate Of 12 Or It C 1 (76.45 KiB) Viewed 165 times
A bank has $800,000 to lend for 6 months. It can lend it to a local contractor at a simple interest rate of 12%, or it can lend it to a small business that will pay 12% compounded monthly. If the bank wants to maximize its interest earned, who should receive the loan and what is the adó itional interest earned? O Contractor: $46,784.00 O Contractor: $1216.00 O Business, $1216.00 O Business: $731,056.00