Question

interest rates and profits
interest and total payments on $10,000 loan over five years
the bank would earn a profit of $4,274 over
years if a customer was charged 15%
ner would save over the life of the
five
a 5% interest rate rather than a 10% interest
ten
fifteen

Explanation:

Step1: Identificar los montos a pagar

El monto total pagado con un 5% de interés es $11,322.00 y con un 10% de interés es $12,750.00.

Step2: Calcular la diferencia

Restamos el monto pagado con un 5% de interés al monto pagado con un 10% de interés: $12750 - 11322$.
$12750−11322 = 1428$

Answer:

$1,428$