Mary needs to borrow $11,000. She can borrow the money at 5.5% simple interest for...
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Mary needs to borrow $11,000. She can borrow the money at 5.5% simple interest for 33 yr.(a) How much total interest would Mary pay at 5.5% simple interest?(b) How much total interest would Mary pay at 5% interest compounded continuously?(c) Which option results in less total interest?Part 1 of 3(a) How much total interest would Mary pay at 5.5% simple interest?At 5.5% simple interest, the total interest Mary would pay is $2733.875Part: 1/3Part 2 of 3X(b) How much total interest would Mary pay at 5% interest compounded continuously?At 5% interest compounded continuously, the total interest Mary would pay is $or she can borrow at 5% with interest compounded continuously forXSSubmit AssignmAcressi
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