maths_questions
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- Feb 28, 2010
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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.