maths_questions
New member
Peter borrows $30 000 from the Bank A at a simple interest rate of 14% p.a. He also borrow $30 000 from Bank B at 10 p.a., compounded yearly. He will return $36 300 to Bank A and Bank B after x years and y years respectively.
(a) Find the value of y
(b) Are the values of x and y the same? Explain your answer
Please explain properly.
(a) Find the value of y
(b) Are the values of x and y the same? Explain your answer
Please explain properly.